The delay of the CLARITY Act is not due to regulatory chaos but rather the controversy surrounding stablecoin yields. Coinbase opposes rules aimed at protecting traditional bank profit margins. Its CEO Brian Armstrong described recent talks as "highly constructive" and clarified that the core conflict lies in who benefits from the digital dollar system. Since stablecoins offer a 4-5% yield, banks face the risk of deposit outflows, highlighting a power struggle within financial system competition. Although Washington is still debating, markets like Polymarket believe there is only a 50-50 chance that the bill will pass this year, as on-chain finance continues to grow strongly.