Coinbase Strategy Head: CLARITY Act Delay Is ‘Foundational’ Necessity, Not Failure

Coinbase Institutional’s Head of Strategy, John D’Agostino, broke from the industry’s impatience regarding the delayed CLARITY Act on Friday, telling CNBC that the legislative pause is justifiable given the bill’s scope. The comments come as the crypto market grapples with $952 million in weekly outflows, a figure analysts directly attribute to the lingering regulatory fog.

Market Structure vs. Stablecoins

Speaking on CNBC, D’Agostino argued that the CLARITY Act, formally the Digital Asset Market Clarity Act, cannot be rushed in the same manner as the GENIUS Act, which was signed into law in July 2025. While the Genius Act established a federal framework for payment stablecoins, D’Agostino noted it addressed "structurally simpler things" than the comprehensive market structure overhaul proposed by CLARITY.

"I completely understand why this is taking longer," D’Agostino stated. "It’s the kind of bill that is quite frankly more foundational for the growth of crypto or any real asset class."

The Institutional Cost

The executive’s defense of the timeline contrasts sharply with market performance. CoinShares data for the week ending December 19 revealed $952 million in outflows from crypto investment products. Institutional capital, spooked by the lack of defined boundaries for digital asset securities, has retreated to the sidelines.

D’Agostino acknowledged the friction, validating concerns about a "massive flight of talent" exiting the U.S. for jurisdictions with clearer rules, such as the UAE and EU. "Part of the rush to get Genius done was to stem that bleeding," he admitted. The hope is that when Congress reconvenes, the threat of an innovation drain will force the CLARITY Act back onto the priority list to prevent the U.S. from falling behind on blockchain infrastructure.