Coinbase Rejects the Clarity Act Draft as Stablecoin Yield Fight Escalates
Senator Cynthia Lummis urged a compromise on the Clarity Act to prevent further delays in American financial regulation.
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Senator Cynthia Lummis urged a compromise on the Clarity Act to prevent further delays in American financial regulation.
Coinbase has rejected a draft of the Clarity Act, which proposes banning stablecoin yields to protect traditional banks. The move complicates efforts by Senators Tillis, Alsobrooks, and Lummis to regulate the sector while facing pressure from the Coinbase-backed Fairshale Super PAC.
co-lead of the Clarity Act draft development
Alsobrooks's version of this story ↗recipient of Super PAC donations
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