{"id":59099,"date":"2026-01-12T10:13:45","date_gmt":"2026-01-12T03:13:45","guid":{"rendered":"https:\/\/hbbgroup.net\/coinbase-could-pull-clarity-act-support-over-stablecoin-rewards-ban\/"},"modified":"2026-01-12T10:13:45","modified_gmt":"2026-01-12T03:13:45","slug":"coinbase-could-pull-clarity-act-support-over-stablecoin-rewards-ban","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/coinbase-could-pull-clarity-act-support-over-stablecoin-rewards-ban\/","title":{"rendered":"Coinbase could pull CLARITY Act support over stablecoin rewards ban"},"content":{"rendered":"<div data-testid=\"html-renderer-container\">\n<p data-ct-non-breakable=\"undefined\">US crypto exchange Coinbase is reportedly ramping up pressure on US lawmakers to resist a push to ban certain decentralized finance provisions in a major crypto bill known as the CLARITY Act.\u00a0<\/p>\n<p>A <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-11\/coinbase-raises-pressure-as-crypto-bill-moves-to-senate-markup\" rel=\"noopener nofollow\" target=\"_blank\">report<\/a> from Bloomberg on Sunday, citing \u201ca person familiar with the firm\u2019s thinking,\u201d said Coinbase \u201cmay reconsider its support\u201d for the bill should it restrict stablecoin issuers from offering rewards on crypto exchanges and other platforms.<\/p>\n<p>Cointelegraph reached out to Coinbase for comment but didn\u2019t receive an immediate response.<\/p>\n<p>Banking groups have been concerned that stablecoin rewards and income-generating products could siphon trillions of dollars from the traditional banking system.<\/p>\n<p>An anti-decentralized finance group was reportedly seen <a href=\"https:\/\/cointelegraph.com\/news\/anti-defi-group-runs-ads-to-strip-defi-from-crypto-bill\">running advertisements<\/a> on Fox News, encouraging the public to pressure their local senators into passing crypto market structure legislation to ban the DeFi provisions supposedly threatening the banking industry.<\/p>\n<p data-ct-non-breakable=\"undefined\">The crypto community has been fighting hard, too, with Stand With Crypto <a href=\"https:\/\/x.com\/standwithcrypto\/status\/2009695823202824356\" rel=\"noopener nofollow\" target=\"_blank\">claiming<\/a> its advocates have sent over 135,000 emails to senators to protect stablecoin rewards.<\/p>\n<figure>    <img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-01\/019baff2-e308-7c91-96db-574236d18096.png\" title><figcaption><em>Source: <\/em><a href=\"https:\/\/x.com\/standwithcrypto\/status\/2008593785903870358\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/x.com\/standwithcrypto\/status\/2008593785903870358\"><em>Stand With Crypto<\/em><\/a><\/figcaption><\/figure>\n<p>The US Senate Banking Committee is set to discuss the issue in a <a href=\"https:\/\/cointelegraph.com\/news\/us-clarity-act-markup-crypto-regulatory-clarity-tim-scott\" title=\"https:\/\/cointelegraph.com\/news\/us-clarity-act-markup-crypto-regulatory-clarity-tim-scott\">Senate markup<\/a> session this Thursday.\u00a0<\/p>\n<p>The GENIUS Act \u2014 passed in July \u2014 prohibits stablecoin issuers from offering interest or yield to holders of the token; however, it does not explicitly extend the ban to crypto exchanges or third parties \u2014 potentially enabling issuers to sidestep the law by offering rewards through partner platforms.<\/p>\n<p>Coinbase has applied for a national trust banking charter \u2014 which would formally allow it to offer rewards under those rules \u2014 while the banking industry is fighting to close that loophole under the CLARITY Act.<\/p>\n<p><template data-ct-widget=\"buzzsprout\" data-buzzsprout-podcast-id=\"2040516\" data-buzzsprout-episode-id=\"18190687\"><\/template><\/p>\n<h2>Millions on the line for crypto firms and banks<\/h2>\n<p data-ct-non-breakable=\"undefined\">Stablecoins have become a major revenue driver for Coinbase, bringing in nearly <a href=\"https:\/\/investor.coinbase.com\/files\/doc_financials\/2025\/q3\/Q3-25-Shareholder-Letter.pdf\" rel=\"noopener nofollow\" target=\"_blank\">$247 million<\/a> in Q4 in addition to $154.8 million from blockchain rewards.\u00a0<\/p>\n<p>Banning rewards from products like Circle\u2019s USDC (<a href=\"http:\/\/cointelegraph.com\/usdc-price-index\">USDC<\/a>) stablecoin, which lets users earn around 3.5%, could hit Coinbase and other crypto trading platforms hard.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/news\/a16z-raises-15-billion-says-crypto-crucial-to-americas-future\"><em><strong>A16z raises $15B, says crypto a \u2018key\u2019 to America winning next 100 years<\/strong><\/em><\/a><\/p>\n<p>However, banking industry advocates say allowing stablecoin rewards could hit the industry even harder, with the Treasury Department estimating in April that widespread <a href=\"https:\/\/cointelegraph.com\/explained\/what-the-310b-stablecoin-market-reveals-about-crypto-adoption\">stablecoin adoption<\/a> could <a href=\"https:\/\/cointelegraph.com\/news\/stablecoins-on-track-for-2-t-market-cap-by-2028-us-treasury\">draw $6.6 trillion<\/a> from the traditional banking system.<\/p>\n<h2>Crypto market structure laws may not take effect until 2029<\/h2>\n<p data-ct-non-breakable=\"undefined\">In addition to the contentious DeFi provisions, there are fears that the <a href=\"https:\/\/cointelegraph.com\/news\/clarity-act-hinges-bipartisan-support-numbers\">2026 US midterm elections<\/a> may<a href=\"https:\/\/cointelegraph.com\/news\/us-crypto-market-structure-bill-delayed\"> slow momentum<\/a> of the CLARITY Act bill, with TD Cowen\u2019s Washington Research Group reporting the bill may not pass Congress until 2027, with final implementation in 2029.<\/p>\n<p data-ct-non-breakable=\"undefined\">Senate Banking Committee Chair Tim Scott, however, appears<a href=\"https:\/\/x.com\/BankingGOP\/status\/2009779765994025253\" rel=\"noopener nofollow\" target=\"_blank\"> confident<\/a> that it can be passed much sooner and \u201cdeliver real results for the American people.\u201d<\/p>\n<p><em><strong>Magazine:<\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/magazine\/davinci-jeremie-bitcoin-og-price-lambo-predictions-cointelegraph\/\"><em><strong> Davinci Jeremie bought Bitcoin at $1\u2026 but $100K BTC doesn\u2019t excite him<\/strong><\/em><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>\n<p>Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph\u2019s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy <a href=\"http:\/\/cointelegraph.com\/editorial-policy\">https:\/\/cointelegraph.com\/editorial-policy<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>US crypto exchange Coinbase is reportedly ramping up pressure on US lawmakers to resist a push to ban certain decentralized [&hellip;]<\/p>","protected":false},"author":5,"featured_media":59101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-59099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/59099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=59099"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/59099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/59101"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=59099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=59099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=59099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}