Cryptocurrency exchange Coinbase Global, Inc. has recently announced its support for the Digital Asset Market Clarity Act (CLARITY Act), marking a significant shift in position for the industry giant, which had previously opposed the legislation multiple times.
This reversal stems from a bipartisan compromise reached by Senators Thom Tillis and Angela Alsobrooks. The agreement strikes a balance on the core contentious issue of stablecoin rewards: it prohibits rewards that are "economically or functionally equivalent to interest paid on bank deposits," but permits activity-based rewards linked to actual usage such as spending or transferring funds.
Coinbase Global, Inc. Chief Policy Officer Faryar Shirzad explained on platform X: "Ultimately, the banking sector secured more restrictions, but we protected the core—the right of Americans to earn rewards based on genuine use of crypto platforms and networks."
Previously, Coinbase Global, Inc. had halted support for the bill twice due to concerns that stablecoin reward provisions were overly strict. The exchange generated approximately $1.35 billion in revenue from stablecoin-related activities in 2025, accounting for about 19% of its total revenue. CEO Brian Armstrong had explicitly stated in January, "We would prefer no bill over a bad bill."
With the deadlock now broken, the Senate Banking Committee is expected to vote on the legislation as early as the week of May 11. Prediction market Polymarket has raised the probability of the bill being enacted by 2026 to 68%. If passed, it would become the first U.S. law to provide a federal-level regulatory framework for digital assets.
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