Brian Armstrong: ‘Incumbents’ Are Trying to Kill Crypto Competition
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Coinbase CEO Brian Armstrong accused "entrenched incumbents" of lobbying against the CLARITY Act, saying traditional financial firms are trying to block crypto companies from competing in US financial services. He framed the dispute as incumbents defending market share versus crypto firms seeking clearer regulation, highlighting regulatory risk that could slow adoption, fundraising and token-linked product rollouts in the US.
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Coinbase CEO Brian Armstrong has accused “entrenched incumbents” of lobbying against the CLARITY Act, arguing that established financial players are trying to stop crypto companies from competing in US financial services.
His comments frame the fight over the bill as a contest between traditional firms protecting their position and crypto businesses seeking clearer rules.
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