01.04.2026 18:25
According to multiple internet sources, a pivotal agreement concerning stablecoin yield provisions within the comprehensive CLARITY Act is anticipated to be finalized by the end of this week. Paul Grewal, Chief Legal Officer of the major exchange Coinbase, specified that the deal could materialize as soon as Friday, injecting renewed optimism into the legislative timeline for the broader crypto market structure bill.
In a broadcast interview, Grewal articulated a strong conviction that the resolution on the contentious stablecoin rewards issue would be secured within a 48-hour window. He framed this as an essential next step following the successful passage of the separate GENIUS Act last year—a development he characterized as a watershed moment for digital asset policy. Grewal emphasized that the CLARITY Act's primary significance lies in its establishment of a definitive, comprehensive regulatory framework, particularly by clarifying the jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over various digital tokens.
The legislative calendar also appears favorable. Grewal expressed confidence that the Senate Banking Committee will commence its markup session on the CLARITY Act this month, immediately following the Senate's return from its recess. A full floor vote could swiftly follow that markup period, potentially sending the bill to the President's desk for signature later in the year. The core dispute over whether crypto firms may offer yield on stablecoins has consistently represented the most substantial roadblock, pitting traditional banking interests against the digital asset industry in a fierce regulatory clash.
This conflict intensified just last week, with industry stakeholders, Coinbase included, reportedly objecting to a recent draft of the provision. However, Grewal's latest assessment suggests a significant thawing, indicating that the opposing factions are now converging on a mutually acceptable compromise. While the official draft text of the final bill is not expected to be released publicly this week, the reported near-agreement on the yield clause is seen as the critical catalyst needed to unblock the entire legislative process.
