CLARITY Act
Coinbase withdraws support for Senate CLARITY Act
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Coinbase, the largest US crypto exchange, abruptly pulled its support for the Senate's version of the CLARITY Act, leading to the cancellation of a key markup session. The move, announced hours before the planned vote, has drawn sharp criticism from industry leaders and the White House, who view it as a setback for bipartisan crypto regulation. CEO Brian Armstrong cited concerns over provisions that could hinder innovation and favor traditional banks.
Citi analysts report growing momentum for the CLARITY Act, a key U.S. crypto market structure bill, but highlight risks of delays beyond 2026 due to disputes over decentralized finance definitions and stablecoin rewards. The Senate Agriculture Committee has advanced its version, while the Banking Committee grapples with contentious issues. A White House meeting on February 2 aims to address stablecoin concerns.
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The Digital Asset Market Clarity Act, known as the CLARITY Act, advances in the U.S. Senate amid concerns over stablecoin rewards. Section 404 of the bill bans passive yields on payment stablecoins but allows activity-based incentives. This could reshape how platforms like Coinbase offer returns to users while integrating crypto into the traditional financial system.
The Digital Asset Market Clarity Act of 2025, known as the CLARITY Act, has cleared the House and is set for Senate markup in January. The bill seeks to resolve jurisdictional disputes between the SEC and CFTC while addressing decentralized finance and state oversight. Key provisions include a DeFi carve-out and a preemption clause for digital commodities.
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Following the Senate Banking Committee's December postponement of the crypto market structure bill markup to early 2026, senators are now set to review the CLARITY Act on January 15. The session addresses lingering issues like DeFi classification, SEC-CFTC jurisdictional lines, and stablecoin incentives, potentially paving the way for a federal digital asset framework.