Congress Delays CLARITY Act After Coinbase Opposition

Senate consideration of the CLARITY Act imploded last week after Coinbase announced it could not support the bill in its current form, prompting Senate Banking Committee leaders to pause and seek language changes. A central dispute concerns allowing interest-bearing stablecoins, with banks lobbying against provisions they say threaten deposit models; the delay contributed to Bitcoin trading volatility below $90,000. The Senate Agriculture Committee still plans a markup next week.