NewsMeter
Coinbase has more at stake in the CLARITY Act setback than other market participants, a strategist at Saxo said.
The Danish bank's analyst grounded the call in one structural fact: Coinbase's trading business is directly exposed to US market-structure rules, the regulations the CLARITY Act was designed to define.
The exposure is not symmetrical across the industry.
Saxo's view is that firms whose primary operations fall inside US market-structure jurisdiction carry more risk from a CLARITY Act stumble than those with more indirect ties to US rulemaking.
Keep reading