Armstrong: It's Time for the Clarity Act to Pass

Coinbase CEO’s Brian Armstrong announced that the time has come to pass the Digital Asset Market Clarity Act law, which he withdrew support for in January. In a Thursday X post, he supported the call in US Treasury Secretary Scott Bessent’s article published in the Wall Street Journal, emphasizing that the current version of the law is a “strong law” after months of negotiations. Armstrong said, “It’s time to pass the Clarity Act.”

Brian Armstrong’s Return to Supporting the Clarity Act

Armstrong’s support came three months after his January statement that he could not support the law “as it is,” which led to delaying the markup in the Senate Banking Committee. Controversial issues like ethical concerns, tokenized stocks, and stablecoin yields had caused the delays. Coinbase legal chief Paul Grewal stated last week that they are “very close to an agreement” on the law. This development increases hopes of reducing regulatory uncertainty in the crypto sector.

Senate Committees and Approvals in the Legislative Process

The Senate Agriculture Committee approved the law in January, but markup in the Banking Committee is still pending. The law aims to clarify digital asset markets by distributing authority between federal and state regulators. This could provide long-term stability for platforms like Coinbase.

Coinbase and Competitors’ OCC Charter Successes

• Coinbase: Received national bank trust charter from OCC.
• Paxos, Ripple Labs, BitGo, Circle, and Fidelity Digital Assets also approved.

These charters adapt crypto custody services to traditional banking standards and increase institutional trust for assets like XRP detailed analysis.

ALT Price: Technical Outlook in Light of Regulatory News

With Clarity Act developments, the crypto market has become active. ALT is showing a +0.20% daily rise at the $0.01 level. RSI at 59.65 is neutral, the overall trend is upward but Supertrend is giving a bearish signal. EMA 20: $0.0071. Strong supports: S1 $0.0076 (78/100, -0.52%), S2 $0.0071 (68/100, -7.07%). Resistances: R1 $0.0078 (75/100, +2.09%), R2 $0.0090 (62/100, +17.80%). Investors should monitor these levels for ALT detailed analysis and ALT futures.

Source: Brian Armstrong