Coinbase Reveals What Happens If CLARITY Act Passes, Or Doesn’t

Ryan VanGrack, vice chair and head of corporate affairs at Coinbase, said the crypto industry has reached a turning point on the CLARITY Act, with a broader coalition now backing the bill than ever before. 

“It’s time to stop talking and start voting,” VanGrack said, fresh off meetings in Washington ahead of the Senate’s return later this month.

A Coalition Beyond Crypto

VanGrack said the push for CLARITY now extends well past the crypto industry itself. Law enforcement groups, major Wall Street firms, and millions of crypto voters have coalesced around the bill after taking time to actually study what’s in it. 

He framed the Senate’s choice and said after more than a year of bipartisan negotiation and compromise, lawmakers are deciding between comprehensive federal oversight or the status quo, which VanGrack said leaves consumers, law enforcement, and illicit finance safeguards all worse off. “I’m hopeful that senators will elevate policy over politics and get this across the finish line,” he said.

What Happens If It Doesn’t Pass Before Midterms

Asked about a fallback plan should the bill stall past the midterm elections, VanGrack pointed to two things he says won’t change regardless of the vote’s outcome. 

First, he said the past 18 months have marked a turning point for crypto, with the SEC and CFTC both signaling intent to propose new rules, and international regulators and technologies like tokenization and agentic trading advancing rapidly. Second, he argued that pace of progress isn’t slowing down. “It’s simply a question of whether Congress can keep pace.”

Banks Aren’t Fighting the Way They Used To

VanGrack pushed back on the idea that traditional banks remain firmly opposed to crypto’s rise, arguing the real picture looks different from the rhetoric. He pointed to roughly two dozen major banks recently announcing a consortium to issue a joint stablecoin, calling it proof that traditional finance has moved past debating whether to engage with crypto and is now focused purely on how. “That’s something we at Coinbase identified over a dozen years ago,” he said, “and we think inevitably they are moving in our direction.”

What Comes After CLARITY Passes

VanGrack said he views what lies ahead not as hurdles but as opportunities. If CLARITY passes, he said the next phase involves the SEC and CFTC actively writing detailed rules that flow from the legislation. But he was clear that innovation in areas like tokenization and agentic trading will keep accelerating domestically and internationally regardless of whether the bill clears the Senate.