Crypto: September 15 Could Change Everything in the United States
September 15 is approaching for American crypto. The Senate must decide whether to advance the CLARITY Act, a text that the industry has been waiting for months. It will require 60 votes. Brian Armstrong believes that the threshold is still achievable. And if Congress blocks it again, the SEC and CFTC are already preparing for the next steps.
In brief
- The Senate must vote on the advancement of the CLARITY Act on September 15.
- The text will need at least 60 votes.
- The SEC and CFTC are already working on their own rules.
Crypto Counts Its Votes in the Senate {#h-crypto-counts-its-votes-in-the-senate}
The CLARITY Act is back after several weeks of pause. The text had already been delayed before the summer. September 15 does not yet correspond to its final adoption. The Senate must first vote to advance its examination. It will require 60 votes. The Republicans hold 53 seats. Even with their entire group, they will need Democrats.
Brian Armstrong believes it is possible. The CEO of Coinbase reminds that the text had received broad support in the House of Representatives. In July 2025, 294 representatives voted in favor. 134 against. In the Senate, the pace changes. The Banking Committee had already approved the text by 15 votes to 9. Now, the entire chamber must be convinced.
Seven Democrats may be enough. On paper. Brian Armstrong is not betting everything on Congress. If the vote fails, regulators will continue their work. The CFTC is notably preparing a new framework for platforms trading crypto assets in the spot market. The SEC is also advancing its own rules. Both agencies have been working for several months on the classification of digital assets, platforms, and the allocation of their competencies.
The CLARITY Act Still Faces Several Issues {#h-the-clarity-act-still-faces-several-issues}
The CLARITY Act aims to establish this boundary in law. The CFTC would take over a significant portion of the crypto spot market. The SEC would retain oversight of assets considered financial securities. Armstrong sees two paths. The first goes through the Senate. The second through regulators. A law passed by Congress offers more stability. A new administration can much more easily modify a rule adopted by an agency.
Crypto companies obviously prefer the first option. They may have to settle for the second. Disagreements have not disappeared over the summer. Stablecoins continue to pose problems. Banks and crypto companies are particularly clashing over rewards given to users who hold certain dollar-backed tokens.
Donald Trump is also back in the discussions. Democrats are calling for stricter rules for politicians with interests in crypto companies or projects. The Trump family owns several businesses in the sector.
Proposals are seeking to regulate these ties. Negotiations had already stumbled over this issue despite several concessions from Trump. The timeline is also tightening. Midterm elections are approaching. The further the campaign advances, the less time the Senate will have to deal with a text of several hundred pages. Brian Armstrong remains confident. He believes that American crypto will soon obtain more regulatory clarity. Through Congress or through agencies. September 15 will already provide a good indication.
-- Price
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