Washington may be partially closed, but the conversation around crypto is wide open. Coinbase CEO in DC for crypto regulation talks, Brian Armstrong, met with both Senate Democrats and Republicans this week to help finalize the long-debated crypto market structure bill. His visit highlighted how close lawmakers are to agreeing on a framework that could define the future of digital assets in the United States.

Armstrong shared in a video message that the discussions are nearly complete, with around 90 percent of the bill already agreed upon. The final issues on the table involve how decentralized finance should be handled and how users’ rights to earn stablecoin rewards can be maintained. Even during a government shutdown, he described the legislative progress as steady, noting optimism that the bill could move out of committee by Thanksgiving.

Inside the Senate Conversations

Armstrong’s presence in Washington was not a symbolic visit but part of a coordinated effort to shape practical crypto regulation. He joined meetings attended by senators Tim Scott, Chuck Schumer, and Kirsten Gillibrand, as well as industry leaders like Chainlink Labs co-founder Sergey Nazarov. According to multiple reports, both political sides are working together to finalize the bill’s text and close the remaining policy gaps.

The Coinbase CEO stressed the importance of distinguishing between centralized intermediaries, which should be regulated, and decentralized protocols, which must remain free to innovate. This stance aligns with a growing consensus among lawmakers that overregulating DeFi could suppress innovation while still ensuring accountability for custodial platforms like Coinbase.

Stablecoin Rewards and Policy Resistance

Another central theme in Armstrong’s meetings was preserving stablecoin reward programs for users. He pointed to the GENIUS Act, passed earlier this year, which established national standards for stablecoin transparency and reserves. However, banking lobbies have since challenged parts of the act, claiming that it allows exchanges to offer indirect yield-like benefits that banks cannot.

Armstrong described this pushback as an effort to limit competition, emphasizing that Coinbase will continue defending user incentives and DeFi innovation. His remarks underline the broader industry concern that traditional institutions are trying to reassert control over emerging digital finance models.

Also read: Rabby Wallet Moves Toward DeFi Expansion With Polymarket Integration

Why This Moment Matters for US Crypto Policy

Coinbase’s lobbying efforts represent one of the most organized attempts to bridge the gap between the crypto sector and Washington policymakers. The company’s approach is centered on cooperation rather than confrontation, aiming to secure rules that protect both users and builders. Armstrong’s appearance on Capitol Hill also signals that the crypto debate has shifted from theoretical discussions to concrete legislative action.

For an industry long waiting for clarity, these developments mark a significant step. Regulatory uncertainty has kept many institutional players cautious, but bipartisan support could finally unlock the stability that investors and developers have been seeking for years.

What Comes Next for the Crypto Bill

While the bill’s final draft has yet to be released, Armstrong’s remarks suggest that the finishing touches are underway. If lawmakers can align on DeFi treatment and stablecoin provisions, the bill could advance through committee in the coming weeks and reach a vote before year-end.

Armstrong closed his update by reaffirming Coinbase’s commitment to advocacy, saying the company will continue showing up in Washington to defend users’ rights and promote fair innovation. His visit adds weight to the growing belief that clear crypto regulation in the United States is no longer a distant goal but an approaching reality.

Looking Ahead

With the Coinbase CEO in DC for crypto regulation talks, the message from both parties is clear. The industry and lawmakers are finally working toward a shared vision of responsible innovation and lasting regulatory clarity.