Coinbase policy leader: The final provisions of the CLARITY Act on reward mechanisms are now announced

On May 2, FaryarShirzad, policy leader at Coinbase, issued a post on the X platform saying,"The final text of the reward mechanism in the CLARITY Act is now public. We have emphasized throughout this process that this debate is largely based on hypothetical risks rather than real evidence, and a lack of understanding of how the crypto industry actually works. Despite this, the crypto industry is still actively participating in the discussions. After months of meetings, White House, the U.S. Department of the Treasury, Senate Banking Republicans, Tom Tillis and Angela Alsobrooks finally reached a compromise. In the end, banks gained more restrictions on rewards, but we kept the key point-U.S. users can still get rewards based on their actual use of crypto platforms and networks. At the same time, we also ensure that the United States can maintain its leading position in the global financial system, which is crucial in today's competitive geopolitical environment. This is important for innovation, consumers and U.S. national security. With this issue coming to an end, it is time to shift the focus to the broader content of the bill. As this controversy progresses, a lot of progress has also been made in other areas, such as token classification, DeFi and tokenization. We look forward to reviewing the complete final text and moving the bill forward. Now is the time to push the CLARITY Act into effect."