Bitcoin News Today: US House Passes Three Crypto Bills Driving MSTR CRCL COIN Stocks

The US House of Representatives has passed three significant crypto bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. These bills have brought the crypto market into focus, with particular attention on stocks such as Strategy (MSTR), Circle Internet Group (CRCL), and Coinbase (COIN).

The CLARITY Act, which aims to clarify the regulatory framework for cryptocurrencies, passed with a vote of 294-134. This bill seeks to establish consistent legal definitions for terms such as blockchain, digital asset, and digital commodity, thereby avoiding confusion and providing a clear regulatory path for the industry. The GENIUS Act, which creates a federal framework for stablecoins, passed with a vote of 308-122. This legislation mandates transparency, audits, and anti-money laundering compliance from stablecoin issuers, potentially benefiting companies like Circle, which issues the second-largest stablecoin, USDC. The Anti-CBDC Surveillance State Act, which prohibits the Federal Reserve from issuing a CBDC directly to individuals or indirectly through a third party, passed with a vote of 219-210. This act preserves the role of private cryptocurrencies and stablecoins as alternatives to central bank digital currencies, potentially increasing demand for crypto stocks tied to decentralized assets.

Strategy (MSTR) stock is in the spotlight due to the passage of the CLARITY Act. The bill could drive growth for MSTR by providing regulatory certainty and attracting institutional investment. A consistent nationwide framework simplifies compliance, which could enhance profitability for Strategy. The firm is well-known for its consistent accumulation of Bitcoin (BTC), currently holding a total of 601,550 BTC. With Bitcoin seeing renewed momentum, MSTR could follow on a bullish path. Despite a slight drawdown in the past 24 hours, investment bank TD Cowen raised the Strategy MSTR stock price target from $590 to $680.

Circle (CRCL) stock has also reacted positively to the passage of the GENIUS Act. The legislation creates a federal framework for stablecoins, mandating transparency, audits, and anti-money laundering compliance from stablecoin issuers. Circle, with high exposure to stablecoins, is likely to benefit from increased institutional adoption and integration into payment systems. Despite recent setbacks to the GENIUS Act, CRCL stock rose 4% earlier this week and has since continued its momentum, with the price currently at $234.

Coinbase (COIN) stock has also seen a positive reaction to the passage of the Anti-CBDC Act. The act prohibits the Federal Reserve from issuing a CBDC directly to individuals or indirectly through a third party, preserving the role of private cryptocurrencies and stablecoins as alternatives to central bank digital currencies. This potentially increases demand for crypto stocks tied to decentralized assets. COIN has rallied more than 3% and is currently priced at $425 per share.

In summary, the passage of these three crypto bills has brought the crypto market into focus, with particular attention on stocks such as MSTR, CRCL, and COIN. The CLARITY Act provides regulatory certainty for the industry, the GENIUS Act creates a federal framework for stablecoins, and the Anti-CBDC Act preserves the role of private cryptocurrencies and stablecoins. These developments could drive growth for these stocks and attract institutional investment in the crypto market.