Coinbase Says Clarity Act Yield Deal May Clear Path for Senate Markup

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Coinbase said lawmakers reached a deal on the Clarity Act stablecoin yield provision, and the text gives regulators one year to define permitted activity-based rewards. The compromise would bar covered parties from paying yield to U.S. customers solely for holding stablecoins, while preserving rewards tied to bona fide platform activity. Senate Banking Committee Chair Tim Scott has not announced a markup date, and issues around ethics, DeFi and illicit finance remain unresolved.

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