Coinbase CEO Brian Armstrong predicts the U.S. crypto market structure bill will pass by year-end, despite the ongoing government shutdown.
Coinbase CEO Brian Armstrong predicts that the U.S. crypto market structure bill will pass by the end of 2025.
Despite the ongoing government shutdown, Armstrong believes lawmakers will reach an agreement on key aspects of the bill. This optimism comes as bipartisan support continues to grow for clear crypto regulations.
The bill aims to address concerns about crypto trading, custody, and stablecoin operations.
Bipartisan Support for Crypto Legislation
Brian Armstrong has noted that there is strong bipartisan support for the crypto market structure bill.
Both Senate Democrats and Republicans are reportedly close to agreeing on the bill’s key components. Armstrong believes that both parties are “90% on the same page,” a promising sign for the bill’s future.
DC may be shut down, but momentum for market structure clarity is at an all-time high. I sat down with Senate Democrats and Republicans who want to get this done – we're 90% there.
Both sides are working hard to figure out the final 10%, and we're getting close.@Coinbase is… pic.twitter.com/EI5sShFvKA
— Brian Armstrong (@brian_armstrong) October 23, 2025
While the U.S. government remains partially shut down, discussions continue to advance. Armstrong emphasized that lawmakers are focused on finalizing the remaining 10% of the bill. These discussions center on how to regulate decentralized finance (DeFi) and stablecoins, which remain key points of disagreement.
Despite political challenges, Armstrong is confident that the bill’s passage is imminent. He believes that both parties understand the need for clear rules to protect the crypto industry while fostering innovation.
Senate Committee Approval Expected by Thanksgiving
Despite the ongoing government shutdown, Armstrong is confident that the bill will pass through the Senate committee soon.
He believes that the bill could receive committee approval by Thanksgiving. This would set the stage for a full Senate vote before the end of the year.
Armstrong’s comments align with expectations that the bill will move forward quickly. The approval of the bill by the Senate committee is an important step toward passing it into law. This progress is especially important given the urgency around crypto regulation in the U.S.
Coinbase has been actively involved in discussions with lawmakers to ensure the bill protects innovation in the crypto space.
Armstrong emphasized that the goal is to create clear rules for centralized exchanges like Coinbase. These rules would ensure that the industry operates in a safe and regulated environment.
Focus on DeFi and Stablecoins
A key area of focus in the crypto market structure bill is how decentralized finance (DeFi) will be regulated.
Armstrong has urged lawmakers to exclude decentralized protocols from the same regulations applied to centralized entities. This distinction is crucial to avoid overregulation of DeFi platforms.
Another critical issue is the protection of stablecoin rewards for users. Armstrong has warned that some traditional banks might try to block crypto users from earning rewards through stablecoins. He argued that banks should not be allowed to undermine progress in the crypto industry.
The discussions around stablecoins also tie into the broader push to ensure fair rewards for crypto users. The Genius Act, which reaffirmed the legality of stablecoin incentives, plays a key role in these debates.
Armstrong believes that these protections are essential for fostering growth and innovation in the crypto space.
