The post Crypto Regulation: Coinbase, BitGo Execs Speak Up Over CLARITY Act Delay appeared on BitcoinEthereumNews.com. Key Insights: Crypto regulation, the CLARITYThe post Crypto Regulation: Coinbase, BitGo Execs Speak Up Over CLARITY Act Delay appeared on BitcoinEthereumNews.com. Key Insights: Crypto regulation, the CLARITY

Crypto Regulation: Coinbase, BitGo Execs Speak Up Over CLARITY Act Delay

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Key Insights:

  • Crypto regulation, the CLARITY Act, is put on hold as banking groups pose opposition.
  • Lawmakers and crypto industry leaders have grown furious over the repeated delays.
  • Coinbase, BitGo, and other crypto executives expressed criticism over this matter.

The debate over crypto regulation in the U.S. escalated this week as industry proponents and lawmakers slammed the delays in the proposed CLARITY Act. Digital assets companies, such as Coinbase and BitGo, criticized attempts they believe will undermine the legislation and delay the achievement of a consistent regulatory framework in the crypto industry.

Crypto Regulation: What Lawmakers Have To Say About CLARITY Act?

The bill, which aims to establish clearer rules for digital asset markets, has become a point of contention between banking groups and crypto companies. According to several industry players, any initiative to change the legislation may undermine its original pro-innovation intent.

Patrick Witt, the Executive Director of the President’s Council of Advisors for Digital Assets, strongly objected in a post on X. He cautioned that the legislation should not deviate from protecting existing financial institutions, but should be geared towards promoting innovation.

“The CLARITY Act must remain a pro-innovation piece of legislation,” Witt wrote. He added, “Attempts to hijack the legislative process and turn it into an anti-competition bill are shameful.”

Other lawmakers are also discussing crypto regulation on Capitol Hill. Senator Cynthia Lummis credited fellow Senator Angela Alsobrooks with realizing that a compromise was necessary. Lummis stated that the status quo is worse than a bipartisan compromise in the CLARITY Act, which forestalls deposit flight and encourages innovation.

Coinbase, BitGo, Other Crypto Execs React To Crypto Regulation Delay

Coinbase CLO Paul Grewal shared the same concerns. Grewal alleged that certain banking groups are trying to rewrite the bill to benefit at the expense of the average crypto users.

“What is being attempted is to take rewards out of retail consumers’ pockets and put them into the pockets of the biggest banks on the planet,” Grewal wrote on X. He added that the argument that crypto products could cause a “deposit flight” from banks lacks evidence.

The criticism comes as financial institutions and crypto companies are discussing stablecoin yields and their possible effects on bank deposits. Leaders voiced the need to reach a middle ground via compromise from both sides.

In the meantime, Mike Belshe, CEO of BitGo, said crypto-native firms will continue expanding services regardless of legislative delays. He believes that banks opposing the measure may ultimately be harming their own competitive position. Previously, former CFTC Chair Christopher Giancarlo expressed a similar thought.

“I want the CLARITY Act to pass. Ironically, the companies fighting it are the ones who need it most,” Belshe wrote. He further added that digital asset adoption across major financial institutions signals a broader industry shift.
Summer Mersinger, CEO of the Blockchain Association, noted:

“A deal is in sight. We remain at the table, ready to negotiate in good faith. Let’s get it done – and deliver for consumers, support innovation, and secure American leadership in the next wave of financial technology.”

Crypto Council for Innovation CEO Ji Kim also agreed with these points. He stated that this crypto regulation bill was initially intended to foster competition, protect users, and enhance the country’s presence in digital finance.

Probability of CLARITY Act being signed into law in 2026. Source: Polymarket

Meanwhile, negotiations on and around the bill are ongoing in Washington and the White House has started easing the process between banking groups and crypto industry representatives. Lawmakers who participated in the process believe that the CLARITY Act would be discussed by the Senate Banking Committee later this month. As of now, Polymarket shows a 73% probability of CLARITY Act passing in 2026.

Source: https://www.thecoinrepublic.com/2026/03/14/crypto-regulation-coinbase-bitgo-execs-speak-up-over-clarity-act-delay/

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