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Searching for Clarity 👀

Searching for Clarity 👀

Coinbase's CLO says lawmakers are "very close" to a deal resolving the dispute over stablecoin yield provisions in the Clarity Act.

Stephen Graves
April 02, 2026

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📝 What you need to know

Coinbase CLO Paul Grewal said that lawmakers are “very close to a deal” on the Clarity Act, addressing an impasse on provisions around stablecoin yield that have held up the crypto market structure bill.

The Coinbase exec added that he was “very confident we’re going to see progress” on the stablecoin yield agreement within the next 48 hours. Grewal also took aim at the banking industry’s concerns about deposit flight to stablecoins, arguing that there has been “no evidence” of it taking place to date.

Grewal’s comments come as Coinbase becomes more enmeshed in the legacy financial system, with the exchange securing a conditional bank charter from the OCC. But stablecoins remain an “area of concern” for key players, with Federal Reserve Governor Michael Barr calling on regulators to implement anti-money-laundering controls for stablecoins following last year’s passage of the GENIUS Act.

Coinbase CLO: Clarity Act Deal on Stablecoin Yield 'Very Close'

The crypto exchange's top lawyer dismissed banking industry concerns about deposit flight as lawmakers work to finalize stablecoin provisions.

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