Benchmark Cuts Coinbase Forecasts, Sees Clarity Act Upside

The Clarity Act is intended to establish clearer US rules for digital-asset markets, making its progress important for companies whose growth and compliance costs depend on the regulatory treatment of crypto. Coinbase, stablecoin issuer Circle and crypto trading company Bullish are particularly exposed to shifts in policy expectations, leaving their shares sensitive to signs that legislation may advance.

Coinbase, Circle and Bullish shares climbed roughly 8% to 10% after supporters voiced optimism about the bill’s prospects. Investors are now focused on a key procedural vote scheduled for Sept. 15, which could determine whether the measure moves to the next stage of consideration. The rally reflected renewed expectations that greater regulatory clarity could improve the operating outlook and valuations of publicly traded crypto companies.

The US Digital Asset Market Clarity Act, known as the CLARITY Act, seeks to establish a federal framework for crypto markets and clarify oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Bipartisan passage would give digital-asset firms a clearer compliance path in the US, while supporters also view regulated stablecoins as a strategic tool for preserving the dollar’s role in global digital finance.

Coinbase’s head of institutional strategy, John D’Agostino, said bipartisan negotiations have entered their final stage, with industry groups and other stakeholders seeking an agreement before Congress leaves for its August recess. D’Agostino said stablecoins could help sustain the dollar’s international advantage and added that US community banks are increasingly pursuing partnerships with crypto companies, signaling broader engagement between traditional lenders and the digital-asset sector.