Coinbase Backs CLARITY Act Compromise Banning Passive Stablecoin Yield
BeInCrypto
Coinbase supports a new bipartisan compromise on the CLARITY Act that bans passive stablecoin yield while protecting activity-based rewards.Summary
Senators Thom Tillis and Angela Alsobrooks have reached a bipartisan compromise on the Digital Asset Market Clarity Act (CLARITY Act) regarding stablecoin rewards. The agreement prohibits payouts that function like interest-bearing bank deposits while allowing rewards tied to genuine platform activity. Coinbase executives, including Paul Grewal and Faryar Shirzad, have endorsed the compromise, viewing it as a positive step that clarifies industry standards. Federal regulators will now be tasked with creating a framework for permissible reward activities as the bill moves toward a Senate Banking Committee markup.
(Source：BeInCrypto)