Coinbase Chief Legal Officer Paul Grewal stated that progress on the CLARITY Act is expected within the next 48 hours.
According to Grewal, the parties are close to reaching a compromise on key provisions of the bill. The main sticking point remains stablecoin yield rewards.
The bill, which aims to establish a regulatory framework for digital assets in the United States, has been under discussion since January 2026.
Related: Coinbase Withdraws Support for Updated CLARITY Act
The Core Disagreement
The banking lobby insists on prohibiting stablecoin yield payments for both issuers and platforms. They fear such payments could trigger deposit outflows from the traditional banking system.
On the other side, Coinbase and other crypto industry participants view these restrictions as excessive and harmful to innovation.
Grewal noted that there is currently no verified data showing deposit outflows from banks into stablecoins. He emphasized that passing the CLARITY Act is crucial to realizing President Trump’s vision of making the United States the “crypto capital of the world.”
What’s Next?
If the parties reach a compromise soon, the bill could proceed to a markup in the Senate Banking Committee, followed by a full Senate vote.
Delaying the CLARITY Act carries risks for the industry. If political control of Congress shifts after the midterm elections, work toward regulatory clarity could stall for several years.
Related: Base Bets on Prediction Markets, Stablecoins in 2026 Roadmap
