Coinbase withdraws support for the CLARITY Act, leading to the cancellation of a key hearing by the Senate Banking Committee, initially sparking concerns that the legislation would become deadlocked. However, legislators and industry leaders, including Senator Tim Scott, Senator Cynthia Lummis, Ripple's Brad Garlinghouse, and White House advisor David Sacks, view this delay as a critical negotiation phase, urging the industry to resolve differences and ensure the establishment of a regulatory framework in the United States.