Bitcoin approaches $80,000 and Coinbase shares jump 8% as legislative momentum for the Clarity Act improves, signaling a potential shift in the US regulatory landscape for digital assets.
Coinbase shares jumped up to 8% as the crypto bill's improved chances boosted outlook for increased trading volumes and regulatory clarity.
Bitcoin approached $80,000 as the Clarity Act's odds improved, signaling renewed risk appetite and a potential regulatory tailwind.
Bitcoin climbed toward $80,000 on Monday as market participants priced in improved odds for the Clarity Act. The legislative progress, bolstered by a new ethics compromise, triggered a rally in crypto-linked equities, with Coinbase shares surging 8% on expectations of increased regulatory clarity and trading volume.
Markets reacted to the release of a revised draft of the Clarity Act, which includes ethics compromises that increase the likelihood of the bill passing through the Senate.