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Coinbase Global (NASDAQ: $COIN ) CEO Brian Armstrong is calling for the passage in Congress of the U.S. Clarity Act.

Specifically, Armstrong is publicly backing calls to pass the legislation from U.S. Treasury Secretary Scott Bessent, who has urged Congress to move quickly on digital asset regulations.

"Thank you Scott Bessent for saying it. It's time to pass the Clarity Act," Armstrong wrote on social media. "Grateful for all the bipartisan work among Senators and staff over the past several months to make this a strong bill."

Bessent published a Wall Street Journal opinion piece arguing that "digital asset rules need clarity" and calling on lawmakers to advance the legislation that aims to establish a framework for crypto markets, including stablecoins, in the United States.

Armstrong's latest comments are a reversal for the Coinbase CEO, who previously declined to support the bill.

Armstrong had withheld support for the legislation earlier this year as debates over stablecoin yield remained unresolved.

The reversal by Armstrong indicates alignment with the broader push in Washington to adopt crypto regulations.

Meanwhile, U.S. Treasury officials have outlined new proposals targeting anti-money laundering and sanctions risks tied to stablecoins.

Policymakers also continue to weigh how much crypto should interact with the traditional U.S. banking and financial system.

Despite the support, political divisions over the Clarity Act remain in Congress and could complicate efforts to move the legislation forward and get it a step closer to becoming law.

COIN Stock has declined 29% this year to trade at $169.02 U.S. per share.