TLDR Tech / Crypto
Coinbase Says Deal Reached on CLARITY Act Stablecoin Yield
Senators Tillis (R-NC) and Alsobrooks (D-MD) finalized a compromise on the stablecoin yield provision that has blocked the CLARITY Act for months. Section 404 prohibits paying interest or yield to US customers solely for holding stablecoins (or anything 'economically equivalent to an interest-bearing bank deposit'), but explicitly exempts activity-based and transaction-based rewards tied to bona fide platform participation. Coinbase, which reported $1.35B in stablecoin revenue in 2025, much from USDC rewards-driven distribution, endorsed the deal, with CLO Paul Grewal saying it 'preserves activity-based rewards tied to real participation on crypto platforms.'
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