[Coinbase Chief Legal Officer: 'Clarity Act' is 'Very Close' to Reaching Agreement on Stablecoin Yield Issues] Odaily Planet Daily News – Coinbase Chief Legal Officer Paul Grewal stated in an interview with Fox Business that the upcoming 'Clarity Act' is 'very close' to reaching an agreement on the debate surrounding stablecoin yields. Grewal noted that the crypto market structure bill is progressing, although discussions around stablecoin yields are still ongoing. He emphasized that while reward mechanisms are undoubtedly important, other key elements of the bill are equally critical to achieving former President Trump's vision of making the United States the 'global crypto capital.' The U.S. banking industry has previously lobbied for the 'Clarity Act' to include provisions prohibiting crypto platforms from offering yields on idle stablecoin balances, arguing that this could lead to significant outflows of bank deposits. In response, Grewal stated that there is currently no evidence to suggest that such outflows are actually occurring and pointed out that stablecoin yield issues should not be conflated with other challenges facing the banking sector. Grewal expressed optimism about the bill's prospects, predicting that the Senate Banking Committee will initiate review hearings in the coming weeks, followed by a full vote. Coinbase and its CEO Brian Armstrong have repeatedly voiced opposition to versions of the bill that would ban rewards on idle stablecoin balances, arguing that such restrictions would stifle innovation in the U.S. and harm consumer interests. Meanwhile, Coinbase's stock (COIN) has fallen 50% over the past six months amid the ongoing crypto market downturn, closing down 0.9% on Wednesday at $172.99.