Coinbase could pull CLARITY Act support over stablecoin rewards ban

The crypto-focused markets structure bill is set to be discussed at a markup session on Thursday. On the line is the ability for stablecoin issuers to offer rewards via crypto exchanges.

US crypto exchange Coinbase is reportedly ramping up pressure on US lawmakers to resist a push to ban certain decentralized finance provisions in a major crypto bill known as the CLARITY Act. 

A report from Bloomberg on Sunday, citing “a person familiar with the firm’s thinking,” said Coinbase “may reconsider its support” for the bill should it restrict stablecoin issuers from offering rewards on crypto exchanges and other platforms.

Cointelegraph reached out to Coinbase for comment but didn’t receive an immediate response.

Read more