PANews reported on April 2nd, citing The Block, that Coinbase Chief Legal Officer Paul Grewal stated that the Clarity Act is "very close" to reaching an agreement on the stablecoin yield controversy. He pointed out that there is no evidence that allowing stablecoin yields would lead to a significant outflow of bank deposits, and banks should not conflate the stablecoin yield issue with other current challenges. Grewal anticipates that the Senate Banking Committee hearings may be held in the coming weeks, ultimately leading to a full Senate vote. Coinbase and its CEO Brian Armstrong have consistently opposed provisions prohibiting yields on idle stablecoin balances, arguing that this would stifle innovation and harm consumer interests.