By valentin86 on Skatehive
The War for Independence: Why Did Coinbase “Kill” the Clarity Act? Banks are behaving like leeches who fear they will run out of hosts, trying to block the fair interest rates that crypto offers to ordinary people. The Clarity Act was supposed to be the long-awaited peace, but it turned out to be a Trojan horse for traditional banks. Brian Armstrong (CEO Coinbase) became an essential “pivot” for the entire industry after the historic gesture in this first month of 2026: the sudden withdrawal of support for a law that, under the guise of regulation, tried to stifle innovation. https://youtu.be/41xD0LdGXfE?si=2t8NHG9lrl42EFh8 Why did it get to this point? Because banks lobbied heavily to introduce a ban on crypto exchanges paying interest or rewards on stablecoins (like USDC). Their motivation is purely selfish: if you earn 5% interest on USDC in Coinbase, you have no reason to keep your money in a savings account at a traditional bank, where you earn a paltry 0.5%. Banks see this as an