Coinbase CEO says entrenched interests oppose Clarity Act

Coinbase CEO Brian Armstrong said on Katie Miller’s podcast that entrenched interests are opposing the Clarity Act, arguing they do not want to compete with crypto companies that can offer consumers better financial services and want to keep control of the broader financial services industry. Armstrong also said President Donald Trump correctly recognized that millions of Americans felt alienated by the previous administration’s regulation of the crypto industry, and argued it is now time to pass the Clarity Act to protect consumers. He added the bill would benefit banks, law enforcement, crypto companies and, above all, the American people.