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Coinbase Exec Says Clarity Act Has 'Tremendous Momentum' In The Senate

Authored by Micah Zimmerman via BitcoinMagazine.com,

Coinbase Vice Chair Ryan VanGrack said the Clarity Act has gained “tremendous momentum” in the Senate, in a CNBC “Squawk Box” appearance that made the case for a federal crypto framework and touched on bitcoin, blockchain, and the industry’s uneasy truce with Wall Street.

VanGrack, a former SEC official, framed the Clarity Act as an overdue set of rules rather than a giveaway.

“It’s not about no regulation,” he said.

“This is about imposing regulation on the industry for the first time.”

He described a “win-win-win” for American investors, innovators, and standards should the measure pass, and said a bipartisan group of senators has kept up work “even in the last few weeks and days.”

Clarity Act updates

The House passed its version of the Clarity Act last year, and attention has shifted to the Senate, where the path to 60 votes remains the central hurdle. 

The Senate Banking Committee advanced the bill in a 15-9 vote this spring, with two Democrats crossing over, and House members have urged the Senate to act before the August recess. The measure sits in a narrow window as negotiators work out remaining terms.

President Trump added his voice last week, posting on Truth Social in support of Senator Lindsey Graham and calling on the Senate to pass the bill. Trump framed the stakes in terms of competition with China, a message he has repeated as he presses the chamber to move.

VanGrack said Democrats have won concessions that strengthen the bill’s consumer protections. 

JUST IN: 🇺🇸 Coinbase Vice Chair talks CLARITY ACT on CNBC

"The Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill, THAT much stronger" 👏 pic.twitter.com/y3n04dKdRi

— Bitcoin Magazine (@BitcoinMagazine) July 20, 2026

He pointed to an illicit-finance framework, an “FTX loophole” that the text would close, insider-trading safeguards, and added disclosures. 

“Across the board, the Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill that much stronger,” he said. 

He said the bill would not change how crypto is classified as a commodity or a security in a fundamental sense, and would preserve the registration, examination, and surveillance structure from the House version.

Asked how the industry reconciles with skeptics like JPMorgan chief Jamie Dimon, VanGrack pointed to a wave of bank and institutional deals. 

“Not a week goes by,” he said, where a firm fails to announce a new crypto project or investment. He predicted an “inevitable convergence,” a point at which the market stops separating traditional finance from crypto and treats each as a modern financial institution.

That convergence has played out in public, and in conflict. JPMorgan and Coinbase announced a partnership to widen crypto access, and the bank has moved to accept bitcoin as loan collateral and to let clients trade it. 

Dimon, for his part, has declared war on the Clarity Act and aimed a crude insult at Coinbase CEO Brian Armstrong, a reminder that the détente carries friction.

The odds of the Clarity Act being signed into law in 2026 jumped notably today...

Is bitcoin real? 

The interview turned to a sharper question from CNBC’s Andrew Ross Sorkin: whether blockchain is real but bitcoin is not. VanGrack called it “a fair question” and said the technology’s benefits stand on their own — faster settlement, more transparency, and round-the-clock transactions. 

He argued that no one building a financial system today would recreate the infrastructure of the past century. He cited Citadel Securities, which he said made another large investment in the crypto economy last week, as a sign that major institutions are trending the same course.

Sorkin pressed the harder edge of the design: the technology aims to remove the counterparty a customer might call when something goes wrong. VanGrack conceded the point as fair, then countered with the costs of the current system — days to reconcile trades and the counterparty risk that delay creates. 

“I’m not here to tell you it’s the wrong technology,” he said. He acknowledged open questions, including whether crypto accounts should carry interest or loyalty rewards, a debate that bankers have raised and that the law will settle as “a blunt instrument.”

He closed on the case for Clarity Act passage.

“In the absence of clarity, you do not have a federal oversight and framework,” he said. “So whether you love crypto or hate crypto, you should want” the Clarity Act.

Tyler Durden Tue, 07/21/2026 - 14:40

The former NFL star shared rare insight into the star-studded wedding, which was held earlier this month in New York City.

The former NFL star shared rare insight into the star-studded wedding, which was held earlier this month in New York City.

About a third of parents with estranged adult children claim the breakdown in their family's relationship stemmed from advice their kids got from a therapist -- as experts warn of a toxic rise in victimhood culture.

Chaotic Bodycam Video Shows Trans Florida Student Confront Cop Over 'Misgendering' Before Arrest

Newly released police bodycam video shows a University of Central Florida student confronting a campus officer over pronouns before being pepper-sprayed, tased, and taken away in handcuffs.

The footage shows Jarrett Vick, a 27-year-old blue-haired UCF student from Treasure Island, Florida, shouting at an officer who had arrived at a campus building on an unrelated call. The video was recorded in February 2025 but released Friday by the YouTube channel Inside The Blue TV.

"Why do you let those pigs get away with this? They are not supposed to be here," Vick says at the start of the clip.

The officer tells him to lower his voice or be placed in handcuffs. Vick responds by cursing at him: "Fucking try it. Are you threatening me? You're threatening me."

The officer calls for backup on his radio. "He is having a breakdown," he tells dispatch - at which point Vick screams, "She! She! Just say the right pronoun!"

The officer draws his pepper spray and orders Vick to calm down, deploying it when he does not. A university employee appears and attempts to defuse the situation.

"Get away! Fuck you! Fuck you, cop!" Vick shouts, and the employee walks off.

Later in the footage, Vick is seen stomping his foot and shouting "She!" at the officer, and asks the university employee to tell the officers to use the right pronouns, saying it is causing him a lot of distress.

"She, sheeee!!!!!" Vick shrieked. "Just say the right pronoun!"

He was taken into custody after being tased by a second officer, according to the video, which followed Vick attempting to kick and swing at the officers. He is then shown being placed in the back of a squad car. The incident is dated Feb. 5, 2025.

Approached by the Post, Vick said he had been "fucking harassed by the cops" and blamed them for what he described as harassment from the media.

Court records show Vick was charged that day with battery on law enforcement, resisting arrest, and disorderly conduct. He pleaded not guilty to all three counts. His most recent court appearance is dated Jan. 16, and Orange County records list the cases as closed. He is listed as male in his arrest records.

Tyler Durden Tue, 07/21/2026 - 14:20

Married Nashville police officer Lisa Vidrios resigned after admitting to hooking up with another officer – not her husband – at least four times inside Madison Middle School.

As Ernest Hemingway's birthday rolls around each July, Florida bars shake mojitos in tribute to the Nobel Prize-winning author.

A long time ago in a galaxy far, far away...

Giants coach John Harbaugh has jokes for Giants running back Cam Skattebo after his dangerous backflip went haywire at Fanatics Fest last week.

Israel has begun its withdrawal from southern Lebanon, President Trump said Tuesday, touting the US-backed security framework that prompted the move and insisting Lebanon now has a chance to finally break free from Hezbollah's grip.

A Cubs fan who slapped a younger man at a recent game when he didn’t stand for the national anthem has offered more details on the situation. 

The singer faces the death penalty.

The vocally-gifted co-headliners will serenade Jones Beach on July 22.

See why this 4.5-billion-year-old space rock is a "scientific goldmine."

The future's so invasive, you have to wear shades.

Democrat insiders know Kamala Harris is a terrible candidate, but the party they built can’t tell her no.

Appeals Court Rejects Biden's Bid To Block Release Of Bumbling Memoir Audio Tapes

Authored by Zachary Stieber via The Epoch Times,

A federal appeals court on July 20 ruled against former President Joe Biden, finding that he was not entitled to an injunction blocking the release of audio recordings and transcripts of his interviews with his memoir’s ghostwriter.

“Biden has not shown a likelihood of success on the merits,” Circuit Judges Sri Srinivasan and Gregory Katsas in Washington said.

The Heritage Foundation, a conservative think tank, sued the government in 2024, alleging it wrongly withheld most of the recordings and transcripts from conversations Biden had with ghostwriter Mark Zwonitzer in 2016 and 2017.

After President Donald Trump took office in 2025, the Department of Justice said that it planned to disclose the withheld materials to The Heritage Foundation and a House of Representatives panel. Biden intervened, seeking court rulings prohibiting the disclosure of the materials.

Judge Dabney Friedrich of the U.S. District Court for the District of Columbia in June ruled in favor of The Heritage Foundation, citing how the case “involves an unusually strong public interest in the release of law enforcement materials,” which she said outweighs the privacy interests protected by exceptions to the Freedom of Information Act, which allows requests for government-held information.

Friedrich stayed her order to let Biden appeal if he chose, and he did, leading to Monday’s decision.

A majority of the split panel of the U.S. Court of Appeals for the District of Columbia Circuit said that the primary question is whether Biden will likely succeed in showing exemptions to the act apply to the recordings and transcripts.

One exemption sought by Biden protects law enforcement records that, if shared, would reasonably be expected to invade personal privacy.

There is significant public interest in a special counsel investigation of Biden’s alleged mishandling of classified information, and because the special counsel relied on the tapes and transcripts, “the requested materials are germane to that interest,” the majority said.

The “extensive redactions” that the Department of Justice entered on the version of the records it plans to release help protect Biden’s privacy, and the public interest outweighs any remaining personal privacy interest, they added later.

The panel gave Biden until Aug. 3 to appeal to the full appeals court or the Supreme Court.

Special counsel Robert Hur’s year-long investigation produced a 345-page report, published in February 2024, that concluded that no criminal charges were warranted against the then-81-year-old president. Hur said the evidence was insufficient to prove a criminal case beyond a reasonable doubt.

A lawyer representing the former president did not return a request for comment by the time of publication.

Jeffrey Clark, vice president of litigation for the Heritage Foundation’s Oversight Project, said in a July 20 post on X that “we continue to beat Joe Biden’s heavily overcompensated lawyers trying to continue to hide the Autopen Presidency.”

Circuit Judge Florence Pan said in a dissent that she would have sided with Biden.

“In my view, Biden has shown a substantial privacy interest,” Pan wrote, adding that the interest of the public does not outweigh the privacy of Biden because many of the materials from the special counsel investigation have already been made public.

“Even if the substantial competing interests might ultimately weigh in favor of releasing the materials, there is no urgency that requires revealing them at this time,” Pan said.

Tyler Durden Tue, 07/21/2026 - 14:00

The "Real Housewives of New York City" star reveals whether she's ever been to Epstein Island.

The "Real Housewives of New York City" star reveals whether she's ever been to Epstein Island.