Coinbase is pressuring US senators ahead of a cloture vote on the Digital Asset Market Clarity Act, scheduled for September 15, 2026. The bill requires 60 votes to advance, but with Republicans holding 53 seats, it needs support from at least seven Democrats.
The legislation aims to clarify whether digital assets are securities or commodities, defining regulatory oversight. The final draft includes over 100 amendments requested by Democrats to address concerns regarding consumer protection and stablecoin operations.
Opposition remains significant, led by Senator Elizabeth Warren and a coalition of 18 state attorneys general. Critics argue the bill may weaken state-level protections and create ethical conflicts. Banking groups also oppose the measure, citing concerns over stablecoin yields.
Coinbase has a financial stake in the outcome, having generated approximately $1,35 billion in revenue from USDC-related rewards in 2025. The exchange is currently utilizing mobilization campaigns like Stand With Crypto to influence lawmakers.
If the bill fails to pass, the SEC and CFTC will continue to manage jurisdiction through enforcement actions. The exchange warns that the US risks falling behind international markets, such as the EU and various Asian financial centers.
