As the U.S. crypto regulation bill known as the Clarity Act enters its final hurdle before the Senate summer recess, Coinbase Chief Executive Brian Armstrong (브라이언 암스트롱) said the bill has effectively reached its last stage and publicly urged the Senate to move quickly.

On July 30 local time, blockchain outlet U.Today reported that Armstrong released a photo of himself meeting congressional officials and said, "Clear rules are almost here. We are on the 1-yard line." He called the bill’s preparation process "a true bipartisan effort" and said, "Now is the time to pass the Clarity Act."

The key is time. Those pushing to bring the crypto industry into the institutional mainstream must reach an agreement within seven days before the Senate enters its summer recess. But the 60 votes needed to get past procedural delays and ensure passage have not been secured.

Within the Senate, last-minute coordination to break the deadlock is also continuing. According to sources, Senators Tillis and Gallego recently finalized a new compromise related to ethics provisions. The deal has been mentioned as a card that could restart stalled discussions, but details have not been disclosed and White House approval is still pending.

The Clarity Act already passed the Senate Banking Committee on May 14 by a 15-9 vote. But it has not yet been brought to the Senate floor for a final vote. If lawmakers fail to reach a final agreement within the remaining week, the timing could slip to the fall.

Markets and the industry are watching the bill because the future direction of market order could be decided between congressional legislation and self-directed regulation by regulatory agencies. Coinbase is placing its hopes on comprehensive legislation through Congress, but the U.S. Securities and Exchange Commission is preparing another scenario as well.

New SEC Chairman Paul Atkins (폴 앳킨스) has said that if Congress fails to pass the Clarity Act, the SEC will use its existing authority to introduce its own crypto market rules. Atkins also acknowledged that this route is the worse option. His view is that only comprehensive legislation passed by Congress can create a foundation that will not be shaken with each change of administration.

In this situation, this week has increasingly become a possible watershed for the direction of the U.S. crypto regulatory system. The key question is whether the Senate can clear the 60-vote threshold through a last-minute compromise, or whether legislation will be pushed back until after the fall, raising the prospect of an SEC-led regulatory scenario.