Paul Grewal, Chief Legal Officer (CLO) of Coinbase, stated at Consensus 2026 that the U.S. CLARITY Act is expected to pass this summer. According to The Block, he said, "I support the stablecoin interest compromise proposed by Senator Thom Tillis and Senator Angela Alsobrooks. I participated directly in multiple meetings and discussions regarding the deposit outflow risk claimed by banks, but I have not confirmed a single piece of substantial evidence to support it." This compromise aims to maintain platform usage-based rewards (activity-based rewards), which are crucial for exchanges' stablecoin businesses, while limiting deposit balance-based interest, which banks have pointed out as a risk of deposit outflow. Coinbase has strongly argued that stablecoin interest should be included in the CLARITY Act.
