Coinbase Policy Chief: Congress Missed Its Chance on Bitcoin Reserve Bill

This week, the Clarity Act failed to secure a cloture vote, and Faryar Shirzad, Coinbase's chief policy officer, offered the most detailed analysis of what went wrong.

Shirzad attributes the setback to the electoral calendar, which caught the bill late in the cycle, and a roughly $200 million lobbying effort by big banks that slowed progress.

In his view, Congress has missed its opportunity, and the focus will now shift to the SEC, CFTC, and bank regulators led by Paul Atkins.

Shirzad also outlined a three-pronged approach spanning legislation, regulation, and international coordination, which he said continues to have momentum.

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