Key Insights
Coinbase withdrew support for the Senate’s Clarity Act, saying recent changes hurt stablecoins, DeFi, and tokenized assets.
Grayscale backed Coinbase, arguing the bill’s delay reflects bank lobby pressure rather than real crypto risk concerns.
Even with the Clarity Act stalled, crypto ETFs can still move forward under existing SEC listing rules.
The crypto market has been waiting for clear rules in the United States for many years. The crypto community believed the Clarity Act could finally bring that clarity. But this week, the story changed.
Coinbase has officially stepped away from supporting the Senate version of the Clarity Act. Soon after that decision, the Senate Banking Committee delayed its planned discussion of the bill.
This sequence of events has raised new questions about what is really slowing crypto regulation in the US. The issue is no longer just about writing rules for crypto. It is now also about who those rules are designed to protect
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