Coinbase CEO Brian Armstrong claimed that the crypto market structure bill has received strong bipartisan support in the Senate and could potentially pass in November.
Summary
- Coinbase CEO Brian Armstrong said there is strong bipartisan momentum in the Senate to pass the crypto market structure bill by Thanksgiving, emphasizing that it could replicate the GENIUS Act’s market impact.
- While Coinbase supports the bill as a major step toward regulatory clarity and institutional adoption, the company has also warned against overly restrictive DeFi provisions that could hinder innovation.
Shortly after his meeting with Senate Democrats in the crypto roundtable hosted on Oct. 22, Coinbase CEO Brian Armstrong told CNBC that there is currently strong support to pass the crypto market structure bill from both sides of the Senate. Based on prior discussions, he claimed that the majority of issues pertaining the bill have been agreed upon and a draft text may be presented soon.
“We had great meetings with the Democrats in the Senate and on the Republican side today, and the good news is that there’s strong bipartisan support and will to get this market structural legislation done,” said Armstrong in his interview.
According to Armstrong, the committee is aiming to have it passed by Thanksgiving in order to achieve the same effect that the GENIUS Act had on the market. After the GENIUS ACT was signed by President Donald Trump in July 2025, the crypto market saw an immediate surge in stablecoin adoption, particularly USD-backed tokens.
“It gave a chance for the U.S dollar to really be exported around the world and all these dollar denominated accounts, and so they want to see something similar now happen with market structure,” said Armstrong.
In the interview, Armstrong also addressed the leaked
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Author: Trisha Husada
