Senate Banking Committee Pushes for Stablecoin Yield Rule Reform
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: stocktwits
- Stablecoin Yield Rule Discussions: The Senate Banking Committee is engaging with crypto leaders to discuss proposals that may limit stablecoin yields and require issuers to obtain an OCC bank charter, which could significantly impact the upcoming market structure bill.
- Legislative Process Accelerating: Analysis from Galaxy Digital indicates that negotiations are intensifying, with the need for unified Republican support and backing from a few Democrats to advance the legislation out of committee, highlighting lawmakers' growing focus on the crypto market.
- Market Structure Bill Under Review: The Senate Banking Committee is set to review comprehensive digital asset market structure legislation on January 15, with the committee chair stating that this markup follows months of bipartisan efforts to establish a federal regulatory framework for digital assets.
- Strong Industry Reaction: Galaxy CEO Mike Novogratz criticized Congress for prioritizing bank profits over consumer interests, reflecting significant industry opposition to the proposed rules, which could alter the operational landscape for crypto platforms and decentralized finance applications.
Analyst Views on GLXY
Wall Street analysts forecast GLXY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GLXY is 45.19 USD with a low forecast of 34.00 USD and a high forecast of 58.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
9 Buy
1 Hold
0 Sell
Strong Buy
Current: 25.500
Low
34.00
Averages
45.19
High
58.00
Current: 25.500
Low
34.00
Averages
45.19
High
58.00
About GLXY
Galaxy Digital Inc. is engaged in the business of digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence (AI). The Company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, it develops and operates data center infrastructure to power AI and high-performance computing workloads. The Company's segments include Digital Assets, Data Centers, and Treasury and Corporate. Its Digital Assets operating business segment provides new products and capabilities such as staking, margin-based financing and active exchange-traded funds. The Data Centers segment comprises the Helios infrastructure assets. Its Data Centers segment develops and operates High Performance Computing (HPC) infrastructure to meet the growing demand for large-scale, power-ready facilities in the AI/HPC industry.
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.
