Coinbase vice chair says CLARITY Act is 'on the one-yard line' as Democrats strengthen consumer protections

Ryan VanGrack, Coinbase’s vice chair, went on CNBC to deliver what amounts to cautious optimism about the most important piece of crypto legislation currently working its way through Congress. The CLARITY Act, he said, is “on the one-yard line.”

The Digital Asset Market Clarity Act (H.R. 3633) is closer to a full Senate vote than any comprehensive crypto market structure bill has ever been. Whether it actually crosses the goal line before the August recess is another question entirely.

What Democrats brought to the table

The headline from VanGrack’s July 10 appearance is that Democratic lawmakers have made meaningful concessions that significantly strengthen the bill’s consumer protection provisions.

The bill advanced from the Senate Banking Committee back on May 14 with a 15-9 vote. Two Democrats crossed the aisle to support it: Senator Ruben Gallego of Arizona and Senator Angela Alsobrooks of Maryland.