White House May Drop Support for Clarity Act If Coinbase Holds Its Stance

• White House has threatened to pull support for the Clarity Act if Coinbase doesn’t offer a reasonable solution.
• Coinbase CEO Brian Armstrong has accused the banks of undermining President Trump’s crypto agenda.
• The delayed Senate’s markup for the Clarity Act has divided the crypto community amid renewed demand from institutional investors.

The White House has stepped up its push to pass the Clarity Act in the Senate by pressuring Coinbase Global Inc. (NASDAQ: COIN). Following the delayed Senate’s markup vote earlier this week after Coinbase pulled its support, the White House is now considering backing off if the crypto exchange does not provide a solution to the current impasse on stablecoin yield.

White House Pressures Coinbase to Pass Clarity Act

Eleanor Terrett reported earlier on Saturday, January 17, that persons close to the Trump administration c…

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