Coinbase Expects CLARITY Act Stablecoin Rewards Deal Within 48 Hours
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Coinbase CLO Paul Grewal says a deal on the CLARITY Act’s stablecoin rewards provision could be reached within 48 hours, potentially unlocking Senate markup, a floor vote and review by the President; market odds of passage this year are ~62%. Banks seek strict limits on yield-bearing stablecoins, which has been the main blocker and could constrain DeFi/stablecoin yields and banking deposit flows. Coinbase stock is down ~50% over six months, highlighting market sensitivity to regulatory outcomes and implications for crypto adoption and token/product launch strategies.
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- Coinbase CLO Paul Grewal expects a deal on stablecoin rewards within 48 hours.
- A deal unlocks Senate markup, then a floor vote before reaching President Donald Trump.
- Market odds sit 62% for passage this year as Coinbase stock is down ~50% in six months.
Coinbase Chief Legal Officer Paul Grewal said a deal on the CLARITY Act’s stablecoin rewards provision could be reached within 48 hours. The timeline points to a resolution by Friday, indicating that negotiations between crypto firms and banks are close to completion.
The stablecoin yield clause has been the main blocker for the bill. Without agreement on this point, the legislation cannot move forward.
Stablecoin Rewards Debate Delays CLARITY Act
Banks have pushed for strict limits on stablecoin rewards. Their concern is that yield-bearing stablecoins could pull deposits away from traditional banking. Cry…
Read The Full Article Coinbase Expects CLARITY Act Stablecoin Rewards Deal Within 48 Hours On Coin Edition.
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Banks pushed Congress to kill stablecoin yield with CLARITY Act – Coinbase may have found the loophole
