Coinbase Global Inc. (NASDAQ:COIN) stands to benefit from improving U.S. regulatory clarity and a potential rebound in cryptocurrency activity, with CEO Brian Armstrong bullish on Bitcoin’s (CRYPTO: BTC) longer-term prospects and Needham analyst John Todaro seeing signs that the broader crypto market has already bottomed.
Armstrong Expects Regulatory Clarity
Armstrong told CNBC that the proposed Clarity Act could establish clearer U.S. rules for digital assets, protect consumers and support domestic crypto development.
“I think the Clarity Act is ready to get a yes vote,” Armstrong said, citing bipartisan negotiations and support from law enforcement groups, banks and crypto companies.
He also expects greater clarity even if Congress does not pass the bill, saying the SEC and CFTC are prepared to issue rulemaking and innovation exemptions under their existing authority.
