Coinbase Vice Chair Ryan VanGrack said the Clarity Act<\/a> has gained \u201ctremendous momentum\u201d in the Senate, in a CNBC \u201cSquawk Box\u201d appearance<\/a> that made the case for a federal crypto framework and touched on bitcoin, blockchain, and the industry\u2019s uneasy truce with Wall Street.<\/p>\n VanGrack, a former SEC official, framed the Clarity Act as an overdue set of rules rather than a giveaway. \u201cIt\u2019s not about no regulation,\u201d he said. \u201cThis is about imposing regulation on the industry for the first time.\u201d He described a \u201cwin-win-win\u201d for American investors, innovators, and standards should the measure pass, and said a bipartisan group of senators has kept up work \u201ceven in the last few weeks and days.\u201d<\/p>\n The House passed its version of the Clarity Act last year, and attention has shifted to the Senate, where the path to 60 votes remains the central hurdle.\u00a0<\/p>\n The Senate Banking Committee advanced the bill in a 15-9 vote<\/a> this spring, with two Democrats crossing over, and House members have urged the Senate to act<\/a> before the August recess. The measure sits in a narrow window<\/a> as negotiators work out remaining terms.<\/p>\n President Trump added his voice last week, posting on Truth Social in support of Senator Lindsey Graham and calling on the Senate to pass the bill. Trump framed the stakes in terms of competition with China, a message he has repeated as he presses the chamber to move<\/a>.<\/p>\n VanGrack said Democrats have won concessions that strengthen the bill\u2019s consumer protections.\u00a0<\/p>\n JUST IN: \ud83c\uddfa\ud83c\uddf8 Coinbase Vice Chair talks CLARITY ACT on CNBC <\/p>\n “The Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill, THAT much stronger” \ud83d\udc4f pic.twitter.com\/y3n04dKdRi<\/a><\/p>\n<\/div>\n \u2014 Bitcoin Magazine (@BitcoinMagazine) July 20, 2026<\/a><\/p><\/blockquote>\n <\/template><\/template> <\/div>\n<\/figure>\n He pointed to an illicit-finance framework, an \u201cFTX loophole\u201d that the text would close, insider-trading safeguards, and added disclosures.\u00a0<\/p>\n \u201cAcross the board, the Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill that much stronger,\u201d he said.\u00a0<\/p>\n He said the bill would not change how crypto is classified as a commodity or a security in a fundamental sense, and would preserve the registration, examination, and surveillance structure from the House version.<\/p>\n Asked how the industry reconciles with skeptics like JPMorgan chief Jamie Dimon, VanGrack pointed to a wave of bank and institutional deals.\u00a0<\/p>\n \u201cNot a week goes by,\u201d he said, where a firm fails to announce a new crypto project or investment. He predicted an \u201cinevitable convergence,\u201d a point at which the market stops separating traditional finance from crypto and treats each as a modern financial institution.<\/p>\n That convergence has played out in public, and in conflict. JPMorgan and Coinbase announced a partnership<\/a> to widen crypto access, and the bank has moved to accept bitcoin as loan collateral<\/a> and to let clients trade it<\/a>.\u00a0<\/p>\nBitcoins Clarity Act updates<\/h2>\n
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