Coinbase Execs Drop Crypto’s Most Bullish Stablecoin Message Yet on CLARITY Bill
BeInCrypto
Coinbase executives are advocating for the CLARITY Bill, arguing that stablecoins should be regulated based on their unique risk management rather than bank standards.Summary
Coinbase Chief Legal Officer Paul Grewal and Chief Policy Officer Faryar Shirzad have issued a strong defense of private stablecoins, endorsing the Digital Asset Market Clarity Act (CLARITY Bill). The executives argue that stablecoin issuers, who are restricted by the GENIUS framework from engaging in the lending and high-leverage activities typical of commercial banks, require a distinct regulatory approach focused on transparency and reserve management. By highlighting that private stablecoins hold cash and US Treasuries on a one-to-one basis, Coinbase officials aim to dispel systemic risk concerns while pushing for legislative progress before the upcoming midterm windows.
(Source：BeInCrypto)