Coinbase tells senators it cannot back the latest CLARITY Act text

Coinbase told senators it could not support the latest CLARITY Act bill text and raised significant concerns about its stablecoin yield provisions, according to Punchbowl News as reported by The Block on March 25. The bipartisan proposal had circulated earlier that week. The article said Mizuho cited the legislative impasse as a main reason Circle shares had declined sharply.

• Coinbase told senators it could not back the latest bill text
• Main objection: stablecoin yield provisions
• Circle shares declined sharply in recent sessions, per the same report