Coinbase legal chief says US lawmakers close to CLARITY Act deal
Coinbase Chief Legal Officer Paul Grewal said US lawmakers are getting close to an agreement on the CLARITY Act, with a Senate markup expected soon.
In an interview on Fox Business, Grewal said discussions in Congress are moving forward, although some issues still need to be settled. “We’re very close to a deal,” he said.
The main disagreement is over whether stablecoin companies or platforms should be allowed to offer yield, or rewards, to users. This issue has delayed progress in the Senate Banking Committee and prevented a markup date from being set.
Banks have argued that allowing such rewards could pull money away from traditional deposits and affect the banking system. Grewal rejected those concerns, saying there is no clear evidence to support them.
The US House passed the CLARITY Act in July 2025, but the Senate has yet to move it forward. Lawmakers are still working to resolve key differences before scheduling the next step.
The outcome of the bill could shape how digital assets are regulated in the United States, with some experts warning that delays may leave the industry exposed to stricter rules in the future.
Featured image from: cointelegraph.com