Coinbase says crypto bill deal clears Senate path
Coinbase says Senate negotiators have reached a deal on a disputed crypto bill provision tied to stablecoin rewards. Coinbase says negotiators reached a rewards compromise, easing a key delay for the CLARITY Act.Banks secured limits on deposit-like yield, while crypto firms kept activity-based user rewards under rules.The Senate markup path now depends on committee support, regulatory details, and wider political backing. The agreement could help the CLARITY Act move toward a Senate markup after months of delay. According to a Reuters report, the debate centered on whether crypto firms and stablecoin issuers should offer rewards to customers. Banks opposed the provision because they said yield-style rewards could pull deposits away from traditional lenders. Crypto companies argued that they need room to reward users for real platform activity. Coinbase said the new language protects that ability while adding more limits around rewards that look like bank interest. Coinbase Chief Policy Officer Faryar Shirzad said, “In the end, the banks were able to get more restrictions on rewards, but we protected what matters.” He added that crypto platforms kept the ability for Americans to earn rewards based on real usage of crypto platforms and networks. Banks win limits on deposit-like yield The compromise was negotiated by Senators Thom