The push to make the U.S. the “crypto capital of the world” gained momentum this week as lawmakers and industry leaders signaled a breakthrough on long-stalled market structure legislation.
CLARITY Act back on track
At the World Liberty Forum, Brian Armstrong and Senator Bernie Moreno expressed confidence that the CLARITY Act could pass by April 2026.
The bill had stalled earlier this year after Coinbase withdrew support over provisions that would have restricted interest-bearing stablecoins. Armstrong clarified that the move was not meant to kill the legislation but to push negotiators back to the table.
“There is now a path forward where we can get a win-win-win outcome,” Armstrong said, noting that major banks are increasingly engaging with digital asset policy rather than resisting it.
If passed, the CLARITY Act would establish a clearer division of regulatory authority between agencies and define how digital assets are classified under U.S. law.
Stablecoins and “dollar dominance”
Moreno argued that enabling stablecoin rewards is strategically important. By allowing stablecoins to compete with traditional bank deposits, he suggested the U.S. could:
- Expand global demand for dollar-denominated digital assets
- Strengthen dollar dominance
- Potentially reduce Treasury borrowing costs
The debate centers on whether interest-bearing stablecoins should be restricted to protect the traditional banking system — or encouraged to drive innovation and competition.
Preparing for the “quantum threat”
The discussion also addressed concerns that quantum computing could eventually compromise blockchain cryptography.
Armstrong described the issue as a “solvable engineering challenge,” adding that Coinbase is already coordinating with networks like Bitcoin and Ethereum to prepare upgrades toward post-quantum cryptographic standards.
Prediction markets and federal oversight
The pair also welcomed comments from Mike Selig, who reaffirmed federal jurisdiction over prediction markets. Armstrong’s broader “Everything Exchange” strategy includes such markets, and federal backing could shield platforms from state-level gambling enforcement actions.
Behind the scenes, the White House — along with its crypto policy lead David Sacks — is reportedly holding daily meetings with stakeholders to push toward an April legislative milestone.
If momentum holds, the CLARITY Act could become the most significant federal crypto market structure law to date, replacing years of regulatory uncertainty with a unified national framework.
