Coinbase Policy Chief Rebuts WSJ CLARITY Act Criticism, Urges Senate Passage

Shirzad counters WSJ claims on deposit flight with CEA data, clarifies DeFi liability distinctions, and calls for federal digital asset regulation.

Woofun AI reports that Coinbase Chief Policy Officer Faryar Shirzad criticized the Wall Street Journal’s opposition to the CLARITY Act, arguing it favors regulatory barriers over free market competition. He cited three independent studies, including one from the White House Council of Economic Advisers, which found no evidence that stablecoin growth causes bank deposit outflows. Shirzad clarified that the bill distinguishes between code developers and financial intermediaries, ensuring fraud and money laundering remain prosecutable, while urging the U.S. Senate to pass the legislation for stable federal digital asset rules.