With U.S. Crypto Rules Evolving, Coinbase Could Benefit Significantly, Benchmark Notes

Benchmark Raises Coinbase Price Target to $421, Sees Opportunity in Regulatory Clarity

Benchmark has increased its price target for Coinbase (COIN) to $421 from $310, maintaining its buy rating as the U.S. moves closer to clearer crypto regulations.

In a report on Monday, the brokerage firm said Coinbase is well placed to benefit from a proposed crypto market structure bill introduced in the House of Representatives earlier this month, which could reshape how digital assets are regulated.

Despite the upbeat forecast, Coinbase shares slipped 1.6% in early trading amid broader market concerns tied to rising tensions in the Middle East.

Last week, Coinbase’s stock rallied 23% following the Senate’s bipartisan approval of the stablecoin GENIUS Act and news that the exchange secured a MiCA license in Luxembourg. The MiCA license allows Coinbase to offer crypto services across all 30 nations in the European Economic Area.

“The CLARITY Act is designed to establish a thorough regulatory framework for digital assets in the U.S., which would provide much-needed certainty for the crypto market,” said Benchmark analyst Mark Palmer. He noted that such clarity could be a key driver for more institutional investment in crypto.

Benchmark also pointed out that if the CLARITY Act passes, Coinbase’s staking services could see substantial growth, offering another revenue boost for the exchange.