From Nasdaq

July 11, 2024 04:43 AM:

Coinbase’s stock has surged over 180% in the past year and 530% since the beginning of 2023. This growth is attributed not only to the expanding crypto market but also to an increasingly favorable regulatory environment that will benefit Coinbase. Institutional investors entering the crypto space signal further growth for the company.

The SEC issued a Wells notice to Coinbase in March 2023, alleging that certain digital assets traded on its platform are securities, requiring Coinbase to register as a securities exchange. Despite concerns and potential challenges, recent legal developments, such as the Loper Bright decision, have shifted the regulatory landscape in favor of Coinbase.

The recent Supreme Court decision that rescinded Chevron deference has significant implications for the SEC and its regulation of digital assets. This decision limits the agency’s power in interpreting laws related to cryptocurrencies, opening the door for a more permissive regulatory environment that can foster innovation and growth within the crypto industry.

Coinbase is poised to benefit from a more favorable regulatory environment, allowing for increased innovation and growth in the cryptocurrency market. With legal precedents and legislation supporting the industry, Coinbase’s future looks promising. Investors may want to consider the potential for Coinbase to capitalize on the next wave of growth in the crypto sector.

The Motley Fool Stock Advisor team has identified 10 top stocks for investors to buy now, and Coinbase Global was not one of them. While considering investment opportunities, investors should assess the long-term growth potential of Coinbase amidst evolving regulatory dynamics. Stock Advisor offers insights and stock picks to guide investors towards successful portfolio management.

Read more at Nasdaq: This Little-Known Fact Is Why I’m Buying Coinbase Hand Over Fist