Coinbase CLO: CLARITY Act Nearing Senate Markup, Floor Vote
Cointelegraph
Coinbase CLO Paul Grewal reports that the Senate is nearing a deal on the CLARITY Act, pending resolution of stablecoin yield disputes.Summary
Coinbase Chief Legal Officer Paul Grewal stated that the U.S. Digital Asset Market Clarity Act is approaching a Senate Banking Committee markup. While negotiations are progressing, a final agreement hinges on resolving disagreements regarding stablecoin yield offerings, which some traditional banks argue could threaten deposit stability. Despite these concerns, Grewal maintains that there is no evidence of such risks. The legislation, which previously passed the House, faces pressure to move forward as industry experts warn that failure to pass the bill could leave the crypto sector vulnerable to future regulatory crackdowns.
(Source：Cointelegraph)