Coinbase Shares Surge As Clarity Act Clears Senate Panel - Coinbase Global (NASDAQ:COIN)
The bill passed the committee 15-9, and investors bet clearer rules could speed institutional adoption of digital assets.
- The Senate Banking Committee voted 15-9 yesterday to advance the Clarity Act, a digital asset market structure bill, with Democratic Senator Ruben Gallego joining Republicans to reduce 'regulatory gray zone' risk for major U.S. crypto platforms.
- Nearly a year of negotiations produced the compromise between lawmakers seeking to balance consumer protection and financial innovation; legacy financial institutions opposed the bill earlier this week by complaining negotiations happened publicly instead of behind closed doors.
- Bank lobbyists aim to tank the compromise because digital currency legitimization would cut into their profits and market power, deploying trade association tactics the White House team grew weary of amid eleventh-hour obstruction.
- Bitcoin rose to $82,000 as traders welcomed Washington's regulatory progress, later retreating to $81,500 but remaining up 2.5% over 24 hours; Coinbase Global surged 8% on Thursday as investors bet clearer rules could accelerate institutional participation.
- The Clarity Act still must pass the full Senate and House, facing opposition from banks, unions and law enforcement, though supporters view it as a bipartisan opportunity critical to United States financial leadership and global competitiveness.
15 Articles
15 Articles
America’s global financial leadership hinges on Clarity Act
Americans have an abundance of payment mechanisms available to them, including cash, debit cards, credit cards, and others. Although inflation has eroded purchasing power, by world standards, the U.S. dollar remains a bastion of stability and credibility. In this menagerie, stablecoins and cryptocurrency remain niche payment products for many Americans. The relative novelty of digital assets is reflected in the current heated Beltway debate betw…
Bitcoin Reclaims $81,000 After CLARITY Vote as JPMorgan Says It's Winning the Institutional Race
Bitcoin reclaimed $81,055 in Friday Asian hours, up 2.3% over 24 hours, after the Senate Banking Committee advanced the CLARITY Act in a 15-9 bipartisan vote late Thursday. XRP and DOGE each surged roughly 5%, with XRP leading gains among major tokens as investors bet that clearer U.S. rules will ease the regulatory overhang on its payments use case. The bounce reversed Wednesday’s dip below $80,000, which had coincided with $635 million in sing…
Crypto Stocks Jump as Senate Panel Advances Major Industry Bill
(Washington, DC) – Crypto stocks rallied Thursday after a Senate committee advanced a major bill aimed at creating a clearer regulatory structure for digital assets. The move gave the industry a fresh boost, with Coinbase, Robinhood, Strategy and other crypto-linked names moving higher during the session. Bitcoin also gained ground as investors bet that Washington may finally be moving closer to a clearer rulebook for the sector. For years, cryp…
Coinbase Shares Surge As Clarity Act Clears Senate Panel - Coinbase Global (NASDAQ:COIN)
Coinbase Global shares are trading higher Thursday afternoon as crypto-linked names react to stablecoin legislation momentum in Washington, a backdrop that can reshape how digital dollars are issued, rewarded and regulated.
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