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 have directly participated in numerous meetings and conversations regarding the risk of deposit outflows claimed by banks, but I have not found 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 cited as a risk of deposit outflows. Coinbase has strongly argued that stablecoin interest should be included in the CLARITY Act.
