Senate Crypto Market Structure Bill Progress
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy COIN?
Source: Benzinga
- Legislative Necessity: SEC Chairman Paul Atkins emphasized during a Senate Banking Committee hearing that relying solely on SEC rulemaking cannot ensure the durability of crypto regulation, necessitating congressional legislation to achieve future policy stability, thereby ensuring the healthy development of the crypto market.
- Bill Obstacles: Although the Digital Asset Market Clarity Act has passed the House and received support from the Senate Agriculture Committee, disputes remain between crypto firms and banks over stablecoin rewards and regulatory staffing levels, highlighting the complexity of advancing the bill.
- Industry Pressure: Coinbase CEO Brian Armstrong warned that they might withdraw support if the final framework proves unfavorable to the industry, reflecting the high stakes involved and the potential impact on the bill's passage.
- Bipartisan Cooperation Outlook: Senate Banking Committee Chairman Tim Scott expressed optimism about reaching a deal, although divisions among Democrats on how to address illicit finance risks in decentralized finance platforms persist, indicating the need to prevent bad actors while avoiding overly broad enforcement loopholes.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 141.090
Low
230.00
Averages
361.63
High
440.00
Current: 141.090
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Scenario Setting: In Scenario A, Paul suggests that the cycle top for crypto assets may already be in place; despite increased mainstream awareness and political support, real-world adoption remains limited, and many corporations have failed to find durable utility in crypto, which could lead to further downside risks.
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