Coinbase (NASDAQ:COIN) is backing a Senate compromise on stablecoin rewards that could revive the CLARITY Act after months of stalemate.

The Stablecoin Rewards Compromise

The new language bans rewards on stablecoins if they are “economically or functionally equivalent” to bank deposits while preserving incentives tied to actual crypto platform activity.

The Treasury Department and CFTC would issue a rulemaking to determine that equivalency standard. 

The rulemaking would address specifics of what crypto companies’ rewards and staking programs need to include to pass the threshold.

This provision addresses one of the main issues that stalled the bill in the Senate: whether crypto firms…

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