- Circle shares rose 19,89% on Monday, while Coinbase shares rose 6,14%.
- Senators Angela Alsobrox and Thom Tillis reached a compromise on Friday on language regulating stablecoin yields.
Cryptocurrency-related stocks saw a significant rise at the start of the trading week, thanks to progress in resolving the months-long dispute surrounding the CLARITY Act.
Circle shares rose 19,89% on Monday to close at $119,53, According to TradingView. Shares of the USDC stablecoin issuer have risen 32,4% over the past month and 50,7% year-to-date. Coinbase Global shares closed up 6,14% at $202,99.
Shares of cryptocurrency infrastructure company Bitgo also rose 10,26% to close at $11,50. Robinhood shares jumped 3,92%, and SOL Strategies shares rose 17,83%.
Meanwhile, Bitcoin surpassed $80,000, up 2,12%. Meanwhile, the US stock market as a whole declined on Monday: the Dow Jones Industrial Average fell 1,13%, and the S&P 500 fell 0,41% amid geopolitical uncertainty in the Middle East.
The rise in crypto stock prices coincided with progress on the law. Senators Angela Alsobrox, Democrat of Maryland, and Thom Tillis, Republican of North Carolina, reported that reached A compromise on the wording governing stablecoin yields is a key issue in the legislative debate.
Our compromise solution prevents stablecoin rewards from resembling interest on bank deposits, which is our main concern in connection with the outflow of deposits, wrote Tillis.
Previously edited Happy Coin News Reported, that Donald Trump, speaking at an event in Mar-a-Lago, said that he would immediately sign the CLARITY Act as soon as the document was on his desk.
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