US Senate Rejects Motion to Begin Debate on Clarity Act, Crypto-Linked Stocks Fall

RegulationDigital FinancePrice Action Impact 4
โดย NADA NEWS·US·Read original
Summary · why it matters

On the 15th, the US Senate rejected a cloture motion on a motion to begin debate on the Clarity Act, a cryptocurrency regulation bill, by a vote of 49 to 50, falling far short of the 60 votes needed. In response, Coinbase shares fell about 10%, Circle shares about 11%, and Strategy shares about 5%. Saxo Bank investment strategist Ruben Dalfovo noted in a September 16 report that the risks facing the three companies differ, and analyzed that Coinbase is most directly affected by the Clarity Act's progress. According to him, Coinbase posted a record share of crypto trading in the second quarter, and the average USDC balance held within its services reached 20 billion dollars. Circle's main risk factors, meanwhile, are USDC adoption and interest rates, while Strategy's are the bitcoin price and its funding structure. The Senate is scheduled to adjourn on December 18, and Republican Tom Tillis has filed a motion to reconsider, but Bernstein sees little chance of a revote and expects the US Securities and Exchange Commission and the Commodity Futures Trading Commission to move quickly to formulate rules.

Impact on stocks 4

Digital Finance & Tokenization▼ · 3 stocks
Coinbase Global Inc
COIN
▼ NegativeRegulationrelevance

Senate rejected cloture on the Clarity Act crypto regulation bill, and Coinbase is most directly affected by its progress

Circle Internet Group, Inc.
CRCL
▼ NegativeRegulationrelevance

Clarity Act debate blocked in Senate, hitting Circle whose main risk factors are USDC adoption and rates

Financials▲ · 1 stocks

Theme Impact 3

Off-coverage companies 1

盛宝银行集团 (Saxo Bank Group)Private± Mixed
relevance

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