Urgent Call for Cryptocurrency Legislation as Deadline Approaches
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy COIN?
Source: Yahoo Finance
- Legislative Deadline: Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, warns that the window for passing the Clarity Act is rapidly closing as the political focus shifts toward midterm elections, potentially leaving the crypto industry in a state of uncertainty.
- Regulatory Uncertainty: The lack of clear regulatory guidelines has led many financial institutions to hesitate in engaging with cryptocurrencies due to fears of legal liabilities, a standoff that exacerbates market volatility and stifles innovation, ultimately impacting investor confidence.
- Industry Advocacy: Coinbase CEO Brian Armstrong expressed optimism during the earnings call about the possibility of legislation passing in the coming months, highlighting the unity among crypto industry players in their legislative requests, which could create a win-win scenario for banks, crypto firms, and consumers.
- Slow Progress of Clarity Act: Although the House passed its version of the Clarity Act last year, the bill has stalled in the Senate, with Witt noting that while provisions related to the CFTC have advanced, the securities aspects remain stuck in the Senate Banking Committee, hindering regulatory clarity for digital assets.
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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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