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Coinbase Policy Chief Shirzad: Why Congress Will Become More Pro-Bitcoin
The Clarity Act's cloture vote failed this week, and Coinbase Chief Policy Officer Faryar Shirzad says a $200 million bank campaign and late timing caused it. He expects Congress to stop acting, with regulators like the SEC and CFTC now leading policy.
Published:
Updated:
What happened
The Clarity Act's cloture vote failed this week, and Coinbase Chief Policy Officer Faryar Shirzad says a $200 million bank campaign and late timing caused it. He expects Congress to stop acting, with regulators like the SEC and CFTC now leading policy.
Confirmed
Global impact / market context
If regulators, not Congress, set Bitcoin rules, then companies like Coinbase might face different requirements. Banks pushing against the bill could slow legal clarity, which may affect how easily people can buy and sell Bitcoin, impacting adoption and prices.
Analyst inference
With Congress stalled, regulatory decisions under Paul Atkins could shape Bitcoin's future. The article highlights big banks' spending as a force against crypto-friendly laws, suggesting a tug-of-war between traditional finance and crypto that might influence business strategies and investor confidence in Bitcoin.
Analyst inference
What to watch
- Watch for the SEC, CFTC, and bank regulators to act under Paul Atkins, as Shirzad predicts the real action moves to them after the Clarity Act's vote failure. Confirmed
- Consider whether a three-track approach—legislation, regulation, and international—could still bring policy momentum, since Shirzad says it has strong momentum despite the failed vote. Proposed
- Monitor for big banks' influence on future crypto rules, because the $200 million campaign shows their strong opposition, which could slow or alter crypto regulation and affect markets. Analyst inference
Affected assets
- BTC — Bitcoin