CLARITY Act Stalls: Coinbase Faces Regulatory Uncertainty Amid Market-Structure Rules

A proposed US regulatory bill known as the CLARITY Act has stalled in the Senate, leaving uncertainty over market-structure rules that could affect Coinbase and other crypto exchanges. The bill failed to secure the necessary 60 votes to proceed to a floor debate, putting its passage this year in doubt.

Saxo Bank strategist Ruben Dalfovo highlighted Coinbase's direct exposure to the CLARITY Act due to trading market-structure rules, which could impact registration requirements and platform participation criteria.

Shares of Coinbase, Circle, and Strategy declined by 5% to 10% following the Senate's decision, suggesting that investors are pricing in a broader delay for regulatory clarity.

Meanwhile, Standard Chartered's research team is bullish on Arbitrum's economics, projecting ARB at $10 by 2030 based on revenue-sharing dynamics and expanding onchain activity by traditional finance firms. The report also highlights the importance of user activity, wallet and exchange integration, and competitive landscape among scaling networks.