- American crypto exchange Coinbase has again rejected the CLARITY Act, as the bill retains its ban on generating income from stablecoins.
- Position Coinbase is important to the crypto industry, which also accuses banks of unfair competition.
The CLARITY Act has once again faced opposition from Coinbase, the largest US crypto exchange. This is the first time there has been disagreement over the document. arose in January 2026.
Coinbase representatives informed US Senate lawmakers of their concerns regarding the language regarding stablecoin yields in the new compromise version of the bill. Under the new proposal, third parties, such as exchanges, would not be allowed to receive income from stablecoins. This measure, according to lawmakers, is intended to allay banks’ concerns about the risk of a run on deposits. Republican Senator Thom Tillis and Democratic Senator Angela Alsobrook advocated for this language in the CLARITY Act.
Coinbase is one of the largest digital asset lobbyists in the US, and its withdrawal from the bill will likely impact sentiment in the crypto community. This is especially true given that stablecoin yields are a significant source of revenue for cryptocurrency exchanges. The crypto lobby claims the risks are exaggerated and accuses banks of anticompetitive behavior.
Coinbase’s opposition is disadvantageous to the Trump administration, as Republicans want to pass the bill before the midterm elections, which could change the composition of Congress, potentially slowing the legislation’s progress.
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