Senate Banking postponed its deliberate Jan. 15 markup of the CLARITY Act, delaying Senate motion on H.R. 3633 as negotiations proceed over language that would decide whether or not stablecoin rewards are handled as deposit-like yield.
Markup postponed after Home passage
The committee’s Jan. 15 govt session was marked “POSTPONED” on its schedule, and no alternative date was listed.
Chairman Tim Scott mentioned the markup could be delayed “as bipartisan negotiations proceed,” including that “everybody stays on the desk working in good religion.”
The Home permitted H.R. 3633 by a 294-134 vote on July 17, 2025.
It was acquired within the Senate on Sept. 18, 2025 and referred for consideration.
Coinbase pulls again help over stablecoin rewards
Coinbase CEO Brian Armstrong mentioned “draft amendments” would “kill rewards on stablecoins,” including that Coinbase would “fairly don’t have any invoice than a foul invoice.”
Banks have argued that reward-bearing stablecoins can perform like deposits.
The article cited considerations that some tokens pay reward charges resembling high-yield deposits round 3.5%.
White Home stress claims and public dispute
Reporter Eleanor Terrett posted that an unnamed supply claimed the White Home was contemplating pulling help until Coinbase returned to negotiations with an settlement on yield that satisfies banks.
Armstrong disputed that characterization in a reply, writing:
“Usually, love your posts, however this isn’t correct. The White Home has been tremendous constructive right here. They did ask us to see if we will go determine a take care of the banks, which we’re at the moment engaged on. Really, we’ve been cooking up some good concepts on how we might help the neighborhood banks particularly on this invoice, since that’s what that is about…..the neighborhood banks, proper? Extra coming quickly.”
What’s subsequent
With the markup postponed, the subsequent steps hinge on negotiations and any revised draft language addressing stablecoin rewards.
For now, the one documented change is procedural: Senate Banking delayed the Jan. 15 CLARITY Act markup and has not posted a brand new date.