COIN
The crypto bill is back on the assembly line
Sen. Bernie Moreno says the long-awaited CLARITY Act is headed for markup next week, with the goal of landing on President Trump’s desk before July 4. In other words: Congress is trying to turn crypto regulation from a spaghetti pile into something you can actually read.
The big wrinkle — stablecoin yields and other sticking points — appears to have been ironed out. Moreno said the “outstanding issues” are resolved, and the compromise language would block crypto firms from offering rewards that are basically the same thing as bank deposit interest with a fancier logo.
Why Coinbase investors should care
Coinbase Global is squarely in the blast radius here. The company backed away from the bill earlier this year, but now says it’s on board with advancing it. If the U.S. gets a federal framework for digital assets, Coinbase could get a cleaner operating environment, fewer regulatory surprises, and a better shot at growing without tripping over the SEC every five minutes.
That doesn’t mean the stock gets to moon on vibes alone. Banks still hate the idea, lawmakers still have to merge committee versions of the bill, and “before July 4” in Washington is more of a promise than a guarantee. But for Coinbase, this is the kind of policy news that can quietly matter a lot more than a flashy headline.
Big picture
Crypto bulls want regulation to be boring. This is the closest thing to boring progress they’ve gotten in a while.