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00:03Coinbase CEO Brian Armstrong played a central role in negotiations over the Clarity Act
00:08before the crypto market structure bill failed to advance in the Senate, according to The
00:12Wall Street Journal.
00:13Armstrong opposed restrictions that could have affected Coinbase's stablecoin rewards
00:18program and pulled his support for an early version of the bill in January.
00:23Negotiations continued for months as lawmakers debated stablecoin rewards, ethics provisions,
00:27and other issues.
00:28Republicans later withdrew several proposed compromises after Armstrong objected to them,
00:33according to people familiar with the talks.
00:35The bill ultimately failed to secure the 60 votes needed to advance Tuesday.
00:40In a post on X, Armstrong said the final Clarity Act was better than earlier drafts and defended
00:45his role in shaping it, despite its failure.
00:47For all things money, visit Benzinga.com
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