Congressional sources told Eleanor Terrett of Crypto In America on Friday that the Senate Banking Committee is poised to release its long‑awaited draft of the crypto market structure bill (CLARITY Act) as soon as next week.
The disclosure comes amid growing industry pushback from the industry, including fresh opposition from crypto exchange Coinbase over recent changes to the bill’s key provisions.
Crypto Bill’s Stablecoin Yield ProhibitionLawmakers would still permit activity‑based incentives such as loyalty or promotional rewards, but regulators would be charged with defining what incentives are allowed and with crafting anti‑evasion rules within a year.
That policy shift has already generated sharp criticism from crypto firms and advocates, who say the language favors incumbent banks and risks undermining popular rewards programs that drive consumer engagement.
Coinbase Signals Major DisagreementThe prospect of next week’s release raises several open questions: whether the Banking Committee will set a date for a formal markup of the CLARITY Act portion; how much of the draft may yet change before the committee takes a vote; and how Coinbase and other industry stakeholders will formalize and present their counterproposal.
For now, lawmakers appear to be balancing competing priorities — tightening rules around yield while leaving room for certain customer incentives — even as firms warn that overly broad restrictions could stifle innovation and consumer choice.
Featured image from OpenArt, chart from TradingView.com
