Coinbase CEO Confirms Bipartisan Push for BTC Market Legislation

Coinbase CEO says there is strong bipartisan support in Washington to pass the long awaited crypto market structure bill. A move that could bring more clarity and regulation to the U.S. digital asset industry. Speaking live on CNBC, Armstrong expressed optimism. That the legislation could pass soon, possibly before Thanksgiving.

Strong Bipartisan Momentum

During his CNBC interview with Emily Wilkins, Brian Armstrong revealed. That recent meetings with lawmakers on both sides of the political aisle have been “very productive.” He said Democrats and Republicans are showing a rare level of cooperation to push the bill forward. “We had great meetings with Democrats and Republicans today,” Coinbase CEO Armstrong said. 

“There’s strong bipartisan support to get this market legislation done. It’s important for America and for the 15 million Americans involved in crypto.” He added that the team has already resolved about 90% of the issues. With only a few remaining details left to finalize. “A lot of collaboration is happening,” Brian Armstrong said. “The last 10% of issues will be worked out once everyone gets in the room together.”

A Step Toward Market Clarity

The crypto market structure bill aims to clearly define how the government regulates digital assets in the United States. Specifically, it would establish a framework for spot Bitcoin trading, token classifications. Also, the roles of agencies like the SEC and CFTC. As a result, for years, the lack of clear rules has caused tension between crypto companies and U.S. regulators. For example, the SEC itself has involved Coinbase in ongoing disputes over the classification of certain digital assets.

Coinbase CEO and other industry leaders have repeatedly called for a fair and transparent set of guidelines. That allows innovation while protecting consumers. If passed, the bill could open the door for institutional investors. To enter the market with greater confidence. Analysts believe it could trigger a wave of capital inflows into Bitcoin and other crypto. It is strengthening the U.S. position as a global crypto hub.

Optimism Across the Crypto Industry

Coinbase CEO Armstrong’s comments have sparked excitement among investors and the broader crypto community. Indeed, many view this development as a turning point for U.S. digital asset policy. Consequently, crypto advocates argue that bipartisan backing means lawmakers are beginning to understand. The potential of blockchain technology beyond speculation. Rather, they recognize its role in financial innovation and competitiveness. Furthermore, the sentiment was echoed online after BitcoinTreasuries.net and crypto analyst Pete Rizzo highlighted Brian Armstrong’s comments. He noted that billions could flow into Bitcoin once the bill passes.

Looking Ahead

As the U.S. Congress prepares for a busy legislative season. Coinbase CEO remains hopeful. He believes the crypto market structure bill could be finalized within weeks, not months. If successful, it would mark a major victory for the crypto industry. As well as for the regulators seeking balance. It is paving the way for mainstream adoption of digital assets under a unified and lawful framework.