Coinbase: The upcoming major catalyst for the cryptocurrency market may be driven by regulation

On May 20th, Coinbase highlighted the important impact of regulatory developments on the U.S. cryptocurrency market in its "Weekly Market Review" released on May 17th. Coinbase stated that "macroeconomics remains a key driver of cryptocurrency performance, although we believe the major catalyst to come may be regulatory-driven." Upcoming regulatory events include the Securities Exchange Commission (SEC) decision on spot Ethereum exchange-traded funds (ETFs), possible White House action on the SEC's SAB121 repeal bill, and a vote in the U.S. House of Representatives on the 21st Century Financial Innovation and Technology Act (FIT). Potential stablecoin legislation, such as the Lummis-Gillibrand Payment Stablecoin Act, could also accelerate this adoption cycle.