Coinbase CEO Brian Armstrong says the CLARITY Act is ready for a "yes" vote in the Senate on September 15, pointing to backing from banks, law enforcement groups, and crypto companies. Analysts at Coinpedia note the crypto market has already climbed from $2.01 trillion to $2.61 trillion since late June, with a positive vote seen as a potential trigger toward $3.30 trillion.
Armstrong Says the Bill Is Ready to Pass
Brian Armstrong has backed the CLARITY Act again ahead of its September 15 Senate vote. Speaking on CNBC's Squawk Box Asia on September 10, he described the bill as "ready to get a yes vote," telling viewers that senators he had spoken with were on board.
According to CryptoPotato: "Law enforcement groups are now on board. Many banks are on board." Armstrong also said Coinbase's earlier objections to the bill have been resolved, calling the previous must-have changes settled.
The vote itself is procedural. Senate Majority Leader John Thune filed cloture before the August recess, setting September 15 as the date lawmakers take it up. The measure needs 60 votes, so Republicans need at least seven Democrats or independents to advance it. Negotiations also cover ethics provisions on digital-asset holdings tied to elected officials, including President Donald Trump.
Market Already Pricing In a Regulatory Shift
Grayscale argues that meaningful crypto regulation can move forward regardless of how the vote lands. It points to clearer frameworks forming for stablecoins, token issuance, tokenized securities, and perpetual futures, with platforms including Kalshi, Coinbase, and potentially Hyperliquid sitting within that expanding framework.
The setup follows a run higher: total crypto market capitalization has climbed from $2.01 trillion in late June to $2.61 trillion by early September. A positive market reaction to the vote could push the total toward $3.30 trillion, a level Coinpedia places near the mid-band of a multi-year ascending wedge. The 50-day and 200-day EMA bands are also close to forming a golden cross, which could potentially add to the bullish technical picture.
Coinpedia cautions the scenario isn't guaranteed. If the Senate catalyst fails to generate demand and selling takes over, total crypto market capitalization could fall toward $2.15 trillion and potentially revisit $2.01 trillion.
Sources: CryptoPotato, Coinpedia Fintech News
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