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Democrats add customer protections to Senate CLARITY bill

Coinbase vice chair Ryan VanGrack said Democrats are strengthening the bill’s customer protections as the Senate prepares to vote soon on the Digital Asset Market Clarity Act.

Reported · Written up by our desk · Market Structure

Coinbase vice chair Ryan VanGrack said Democratic lawmakers have added customer protection provisions to the Digital Asset Market Clarity Act, a digital asset market structure bill being considered by the US Senate.

VanGrack made the comments in a Monday interview with CNBC, describing the added protections as giving the legislation “more teeth” and arguing the effort is focused on putting customers first.

The CLARITY Act is expected to be the most comprehensive piece of crypto legislation affecting the industry, with advocacy organizations and companies sharing details of closed-door negotiations over the bill’s text as senators prepare for an upcoming vote.

Cointelegraph notes that Coinbase executives, including CEO Brian Armstrong and chief legal officer Paul Grewal, have previously weighed in on the bill, and that a prior SEC lawsuit against Coinbase was dropped after President Donald Trump took office and Mark Uyeda led the agency as acting chair.

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