Coinbase says deal reached on key stablecoin provision, clearing path for landmark Clarity Act crypto legislation

Tags Policy · Product

Coinbase announced a deal on the most contentious provision of the Clarity Act — a compromise on stablecoin yields finalized by Senators Thom Tillis (R-NC) and Angela Alsobrooks (D-MD) that had stalled the bill since February 2026. The language includes a broad prohibition on rewards 'economically or functionally equivalent to interest' on bank deposits, resolving a deadlock where banks had pushed to ban stablecoin rewards citing deposit flight concerns. Coinbase Chief Policy Officer Faryar Shirzad said the deal preserves 'the ability for Americans to earn rewards tied to genuine usage.' The Clarity Act aims to create the first comprehensive federal regulatory framework for digital assets in the U.S. For crypto and fintech professionals, this compromise could unlock regulatory clarity that the industry has sought for years, potentially reshaping the U.S. digital asset landscape.