Armstrong Sees Regulatory Clarity Boosting Coinbase Stock

Coinbase Global Inc. (NASDAQ:COIN) is poised to benefit from improving US regulatory clarity and a potential rebound in cryptocurrency activity, says CEO Brian Armstrong.

Armstrong expects the proposed Clarity Act to establish clearer rules for digital assets, protect consumers, and support domestic crypto development.

'I think the Clarity Act is ready to get a yes vote,' Armstrong said. He also believes that even if Congress doesn't pass the bill, the SEC and CFTC are prepared to issue rulemaking and innovation exemptions under their existing authority.

Todaro, an analyst at Needham, also sees signs of recovery in the crypto market, which he expects will benefit Coinbase and other digital-asset companies. 'You're starting to see some activity come back into the market,' Todaro said.