Coinbase's Grewal: CLARITY Act stablecoin yield deal could be reached by Friday

Coinbase Chief Legal Officer Paul Grewal (@iampaulgrewal) said he believes negotiators could reach an agreement by Friday on how the CLARITY Act would address stablecoin yields. Speaking on FOX Business, Grewal argued the crypto industry needs to "finish the job" after last year's passage of the GENIUS Act. The treatment of stablecoin yield has emerged as the main sticking point, as banks and crypto firms remain divided over whether crypto companies should be allowed to distribute yields to customers. Grewal also described the CLARITY Act as pivotal for drawing clearer lines on which tokens fall under SEC oversight versus CFTC jurisdiction.