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Coinbase says it cannot support current draft as backlash leaves U.S. Clarity Act in limbo

The U.S. digital asset market structure bill known as the Clarity Act has stalled ahead of the Senate as lawmakers clash over whether stablecoins can pay interest. As of April 2, it had not passed a Senate Banking Committee markup. The bill passed the House on July 17, 2025 by 294 to 134, but the Senate schedule has been delayed. Disputes also remain over DeFi provisions, ethics rules and legislative hurdles including a 60-vote Senate threshold.