The latest Coinbase Weekly Market Commentary, dated May 17, highlights the crucial influence of regulatory developments on U.S. cryptocurrency markets. Coinbase stated: “Macro continues to be a key driver for crypto performance, though we think upcoming major catalysts may be regulatory driven.”
Upcoming regulatory events include the Securities and Exchange Commission (SEC)’s decisions on spot ether exchange-traded funds (ETFs), potential White House actions on the SEC’s SAB 121 repeal, and the U.S. House vote on the Financial Innovation and Technology (FIT) for the 21st Century Act. “Potential stablecoin legislation, such as the Lummis-Gillibrand Payment Stablecoin Act, could also accelerate this adoption cycle,” Coinbase noted.
Source: Bitcoin
