Coinbase: The main catalyst for the future development of the cryptocurrency market may be driven by regulation

BlockBeats news, May 20, Coinbase in the "Weekly Market Review" released on May 17 emphasized the important impact of regulatory developments on the U.S. cryptocurrency market. Coinbase said that "macroeconomics remains the key driver of cryptocurrency performance, although we believe that the upcoming major catalyst may be regulatory-driven."

Upcoming regulatory events include the U.S. Securities and Exchange Commission (SEC) decision on the spot Ethereum ETF, the White House's possible action on the SEC's SAB 121 repeal bill, and the U.S. House of Representatives' vote on the 21st Century Financial Innovation and Technology Act (FIT). Potential stablecoin legislation, such as the Lummis-Gillibrand Payment Stablecoin Act, may also accelerate this adoption cycle.