CLARITY Act Hurdles Send Coinbase, Circle, and Strategy Stocks Soaring

The CLARITY Act, a bill aimed at regulating digital assets, is facing fresh hurdles in Congress. Senate Majority Leader John Thune has stated that the bill may not pass before August due to disagreements over the enforcement of ethics rules.

Currently, the bill's text suggests that the Department of Justice (DOJ) will enforce these rules, but Democrats are pushing for a change to allow state attorneys general to take on this role instead.

As the odds of the CLARITY Act passing drop, three crypto stocks - Coinbase (COIN), Circle (CRCL), and Strategy (MSTR) - are gaining momentum. COIN's stock price has dropped by 1.78% to $158, with a Relative Strength Index (RSI) reading of 46 indicating more selling pressure than buying pressure.

However, the ADX line is falling, suggesting that the downward trend is weak and that Coinbase might remain above its support level of $152. Circle's stock price has gained by 0.29% to $62, with green and shrinking AO bars indicating that bears are losing their grip.