Coinbase Rallies as CFTC Proposes Crypto Regulations Amid Congressional Gridlock

Crypto stocks are on the rise after the CFTC proposed regulations for crypto asset transactions and markets. Coinbase Global Inc. (NASDAQ:COIN) shares are leading the charge, up 12.16% to $195.12 at the time of publication.

The SEC has also introduced a five-year pilot program allowing qualified trading platforms to offer blockchain versions of U.S.-listed equities. These tokenized shares must carry the same dividend payments and voting rights as ordinary shares, and trading must freeze whenever the actual stock's exchange pauses activity.

Rather than waiting for Congress to pass comprehensive crypto rules, regulators are taking matters into their own hands. The CFTC has loosened requirements for prediction market platforms by allowing 'passive software' providers to connect users to regulated products without registering as brokers themselves.