Coinbase VP Says More Democrats Want Clearer Crypto Rules

Coinbase Vice President of US Policy Kara Calvert said more Democrats entering Congress are open to establishing clearer rules for the crypto industry, saying digital assets have become part of everyday financial activity in the United States.

In a November 6 interview with Fox Business, Calvert said lawmakers increasingly recognize that their constituents already use cryptocurrencies and need regulatory clarity.

Her comments come as Democrats prepare to take control of Congress in January 2027, raising questions about the future of the CLARITY Act and other crypto market-structure proposals. She said the bill came close to advancing in September but stalled over disagreements on several provisions.

More Democrats open to clear crypto rules

Calvert said the term “pro-crypto” should not necessarily be understood as support for the industry without conditions. She used it to describe lawmakers who want regulatory rules for digital assets because their constituents already use them.

“When I say pro-crypto, I want to be precise. Pro-crypto means they want clear rules for their constituents,” she said.

She argued that digital assets are no longer confined to a small group of investors and technology enthusiasts but have become part of broader financial activity.

Asked whether Coinbase expected a different regulatory environment under the incoming Congress, Calvert said decisions about potential investigations would depend on the incoming committee chairmen and congressional leadership.

Calvert says election was not a referendum on crypto

In a November 4 thread on X, Calvert argued that the midterm election results should not be interpreted as a rejection of the crypto industry.

She noted that some candidates who supported crypto won while others lost. However, she argued that the incoming Congress would include more pro-crypto lawmakers among its new members than any previous Congress.

Calvert acknowledged that bipartisan legislation could face difficulties next year. However, she argued that both Democrats and Republicans recognize the need for clear rules.

“Democrats and Republicans alike know that clear rules protect consumers and keep innovation in the U.S.,” she wrote.

CLARITY Act still faces Senate hurdles

During the interview, Calvert said negotiations over the CLARITY Act came close to an agreement in September but stalled over several provisions.

“We’ve got very close in September, down to the wire, and a few provisions prevented it from getting across the finish line,” she said.

She noted that the legislation would need 60 votes to overcome the Senate’s cloture threshold, making bipartisan negotiations necessary for it to advance.

The CLARITY Act is intended to establish a federal framework for digital assets and clarify the responsibilities of US financial regulators. Its next steps remain uncertain as lawmakers prepare for the new Congress.

Democrats explore broader crypto market

A November 5 report by The Crypto Times said Democrats were considering a broader crypto market-structure proposal for the next Congress.

The discussions reportedly involve combining provisions from an earlier proposal by Representative Maxine Waters with elements of the Senate negotiations that stalled in September. The proposal remains under discussion and has not been introduced as a bill.

On September 17, seven Senate Democrats said they would seek to revive the CLARITY Act after a 49-50 cloture vote defeat.

As previously reported by The Crypto Times, the lawmakers indicated that negotiations could resume, with staff-level discussions reportedly examining a possible path forward after the midterm elections.

Elizabeth Warren’s expected Senate Banking role raises new hurdles

A November 6 report by The Crypto Times identified Senator Elizabeth Warren as a leading candidate to chair the Senate Banking Committee when the new Congress begins in January 2027.

The report said Democratic control of Congress could affect the prospects for crypto market-structure legislation. If Warren takes the committee role, the bill could face a different set of priorities and may need to restart its legislative path.

In a May 8 report, The Crypto Times said Senate Democrats were seeking to include stronger ethics provisions in the CLARITY Act and had threatened to block the legislation without them.

The dispute centered on concerns about political involvement in digital-asset businesses, with lawmakers seeking to address those concerns directly in the legislation.

Coinbase says it will work with incoming lawmakers

The Fox Business host asked Calvert about crypto companies’ contributions to a White House ballroom project, including Coinbase’s reported $5 million contribution, and whether those donations could draw scrutiny from lawmakers.

Calvert pointed to Coinbase’s status as a publicly traded company and said it was transparent about its activities.

“We are a publicly traded company. You can see what we’ve done. We are very transparent,” she said.

She added that the company would continue engaging with lawmakers regardless of which party controls Congress.

“We will show up, we will be available, we will be transparent and look forward to working with them,” Calvert said.

SEC and CFTC rules remain part of the policy agenda

Calvert said the administration was reviewing crypto-related rules through the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), alongside work on implementing the GENIUS Act.

She described the reviews as part of efforts to make crypto services “better, safer, faster, cheaper” in the United States.

However, she did not identify the specific SEC proposal raised by the interviewer or explain what changes it could introduce. No specific regulatory change or implementation timeline was confirmed during the interview.

Also Read: Bitcoin 401(k) Access Moves Closer as DOL Rule Reaches White House