If lawmakers ban stablecoin rewards under the proposed CLARITY Act, Coinbase could lose a tool to attract users to hold digital dollars on its platform. The bill, which seeks to regulate stablecoins like USDC, raises questions about whether companies can share yield with holders. While some argue that restricting rewards would hurt stablecoins' competitiveness, others suggest alternative structures could allow incentives to reach users. Analysts say the impact on Coinbase’s broader business may be limited, as the company generates revenue from trading, derivatives, and its Base blockchain. However, stablecoin incentives remain strategic for retaining user assets on its platform. The outcome remains uncertain as lawmakers continue negotiations.
The SEC approved Nasdaq's plan to support tokenized securities trading, allowing blockchain-based versions of stocks to trade alongside traditional shares.