Coinbase is launching a six-figure ad campaign urging Congress to pass legislation that would establish rules for regulation of the crypto market, as the House prepares to take up several crypto bills next week.
The crypto exchange is placing print ads in the Washington Post and Wall Street Journal, as well as paid video ads on X and Facebook, calling on lawmakers to act on crypto legislation and pass the Digital Asset Market Clarity Act, also known as the CLARITY Act.
“1in 3 small businesses use crypto. That number doubled in the last year. Still think this is just a phase?” one of the Coinbase ads says. “America voted pro-crypto. It’s time for Congress to act.”
Coinbase is also placing ads at bus stops and billboards across Washington and will have a digital billboard truck driving throughout the city. It is trying to activate users in its app as well, providing them with a tool to reach out to their lawmakers.
“Consumer protections are sacred at Coinbase - that's what this campaign is about,” Kara Calvert, Coinbase vice president of U.S. policy, said in a statement.
“The CLARITY Act would enshrine a regulatory framework to protect crypto consumers into law, so that American customers, businesses and innovators alike can build and trade safely,” she added. “Now is the time, and crypto voters are watching.”
The House is poised to take up several crypto bills next week, in what leadership is calling “crypto week.” This includes the CLARITY Act, in addition to the GENIUS Act and an anti-central bank digital currency bill.
The GENIUS Act, which seeks to create a regulatory framework for stablecoins, passed the Senate last month. President Trump has urged the House to quickly pass a “clean” bill and get it to his desk.
The president’s comments appear to have stymied an effort to formally tie the stablecoin bill to broader market structure legislation. However, the House still seems keen to move both measures at the same time.
The CLARITY Act, which advanced out of the House Financial Services Committee and House Agriculture Committee last month, aims to divvy up oversight of the crypto market between two financial regulators — the Securities and Exchange Commission and the Commodity Futures Trading Commission.
The White House and GOP leadership initially said they hoped to pass both stablecoin and market structure legislation by August.
However, Senate Banking Chair Tim Scott (R-S.C.), Sen. Cynthia Lummis (R-Wyo.) and Bo Hines, executive director of Trump’s Council of Advisors on Digital Assets, offered up a new timeline for market structure legislation late last month, aiming to pass a bill by the end of September.
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