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America’s cryptocurrency is approaching a pivotal moment. According to Coinbase, there is now a compromise in the US Senate on the CLARITY Act, but the text still has no date for committee approval and no guarantee of a final vote.
In short
- The American cryptocurrency enters a decisive phase in the Senate.
- Stablecoin yield remains the last big lock.
- Coinbase sees the deal closed, but nothing has been voted on yet.
A deal that is progressing, but not yet a victory
Coinbase believes that the Senate is finally coming to a joint speech on the CLARITY Act, the main text to set the rules for the crypto market in the United States. On Fox Business, Paul Grewal explained that talks were “very close” to a deal, while admitting that no markup date has yet been set.
This revival of optimism does not come out of nowhere. The House of Representatives already passed the CLARITY Act on July 17, 2025. In the Senate, a review session was scheduled for January 15, 2026, then adjourned until the eve of the meeting. Since then, the text has been evolving to the rhythm of technical compromises and political power struggles.
In other words, cryptocurrency is not over yet. Towards the slightly open door. It’s already better than in February or early March, when the discussions frankly seemed deadlocked, but it’s still not enough to talk about a certain outcome.
Stablecoin yield remains a sticking point
Central blocking still sticks to the same theme. Stablecoin yield. Banks want to prevent crypto platforms from turning these token-backed dollars into quasi-savings products. Their fear is clear: to see some deposits leave traditional bank accounts and move to higher-yielding solutions.
Coinbase rejects this interpretation. Paul Grewal claims that, in his opinion, there is no serious evidence of deposit flight caused by these rewards. This opposition sums up the current debate well: on the one hand, Washington is trying to regulate crypto innovation. On the other hand, the old banking system refuses to allow too direct competition in the field of income.
The endangered circulation has been drawing the middle line since the end of March. It would prohibit passive income from stablecoin balances held on platforms, while leaving the door open to certain usage or activity rewards. This is not a technical detail. It is the heart of the handstand. It is also what determines whether the text can finally move forward.
Why this text is important for all cryptocurrencies
The CLARITY Act doesn’t just address stablecoins. Its ambition is broader: to clarify who regulates what in the crypto world, especially between the SEC and the CFTC, and to provide a clearer framework for platforms, issuers and certain digital assets. It would be the end of a gray area for the industry that has become too costly.
This is also why the debate goes beyond Coinbase. Supporters of the sector, such as Coin Center, believe a new failure would expose the US cryptocurrency to permanent political upheaval. Their argument is blunt but coherent: without a clear text, the market will still depend on current priorities, agency interpretations and the mood of the next government.
The paradox is that this political progress does not guarantee an immediate boom in the crypto market. At the time of writing, btc was up about 3.3% and ether about 4.7% during the session, a sign that investors remain cautious even as the regulatory file seems to be unlocking. The CLARITY Act can improve the basic environment. This alone does not remove market jitters.
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Lydia, a teacher and IT engineer, discovers Bitcoin in 2022 and dives into the world of cryptocurrencies. It popularizes complex topics, deciphers Web3 challenges and defends the vision of an open, inclusive and decentralized digital future.
DISCLAIMER OF LIABILITY
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Before making any investment decision, do your own research.
