TechFlow News, May 6: According to The Block, Coinbase Chief Legal Officer Paul Grewal stated he is “highly confident” that the Clarity Act will pass before the end of this summer and urged banking trade associations to accept the current stablecoin compromise proposal. Paul Grewal argued that banks’ opposition—based on concerns about core deposit outflows—lacks merit and warned that rejecting the compromise would expose the banking industry to the GENIUS Act and other legislation even more adverse to its interests.
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