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Crypto

CLARITY Act Setback Sends Coinbase Shares Plummeting

Guavy AI Editorial Team
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MEW
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The US Senate's failure to advance the Digital Asset Market Clarity (CLARITY) Act has sent shockwaves through the crypto market, causing a sharp decline in shares of Coinbase, Circle, and Strategy.

Saxo Bank strategist Ruben Dalfovo notes that Coinbase is most exposed to clearer market rules due to its tight connection between trading, revenue, and regulatory framework governing crypto trading.

The CLARITY Act aimed to provide comprehensive federal rules for digital assets, but its path forward has narrowed due to the Senate's limited legislative calendar ahead of the Nov. 3 midterm elections and a Dec. 18 adjournment target.

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