Coinbase's withdrawal of support for the US CLARITY Act has sparked a debate about the true impact of the legislation. While the bill aims to provide regulatory clarity for digital assets, critics argue that provisions such as Section 404 (prohibiting yield payments) actually protect traditional banks from competition posed by yield-stablecoins. Analyst Shanaka Anslem Perera pointed out that the bill could safeguard up to $6.6 trillion in bank deposits, as competitive stablecoin yields might drain significant deposits and lending capacity. Coinbase's change in stance has led to speculation that its goal is to protect its market position from emerging competitors with deep pockets, and that clearer rules could facilitate the emergence of such competitors.