Accept or oppose? The "Crypto Clarity Act" has divided the cryptocurrency community into two major camps.

The proposed provisions in the “Clarity Act” that would prohibit stablecoin yield have sparked disagreement in the cryptocurrency sector. Sam Kazemian of Frax Finance believes the bill could benefit Tether and DeFi-native protocols because it would reinforce their existing non-yield or trading-activity-based business models. By contrast, Brian Armstrong and others at Coinbase oppose the bill; they argue it would threaten Coinbase’s revenue streams—for example, about 19% of Coinbase’s revenue in Q3 2025 comes from stablecoins. Kazemian urged that this broader bill be passed now to ensure that a regulatory framework is put in place, so the debate over the issue of yield can be addressed later. He noted that the Senate’s review timeline is extremely tight, and if time is constrained, it could be pushed back to 2027.