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BCH $273.87 +25.63%
LINK $11.42 +8.32%
HYPE $77.01 +7.47%
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Coinbase CEO: The CLARITY Act is expected to receive 60 votes of support in the Senate on September 15

According to CoinDesk, Coinbase CEO Brian Armstrong stated that the U.S. "Digital Asset Market Structure Clarification Act" (CLARITY Act) is expected to receive over 60 votes of support in the U.S. Senate on September 15 and is confident about passing the first key procedural vote after returning to Congress.Brian Armstrong previously mentioned that the CLARITY Act has entered its final advancement stage, and the Senate procedural vote requires 60 votes of support to push the bill forward. The bill aims to establish a regulatory framework for digital assets in the U.S., clarifying the division of responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the regulation of crypto assets. Armstrong believes that the clarification of U.S. crypto industry regulation is approaching, and whether the CLARITY Act ultimately passes or regulatory agencies advance through administrative rules, the market will welcome a clearer regulatory environment.Previously, U.S. President Trump also called on Congress to push the CLARITY Act through, believing that the bill is significant for establishing a regulatory system for digital assets and enhancing the competitiveness of the U.S. crypto industry. reuters.com However, the bill still faces controversy from some lawmakers regarding issues such as conflicts of interest and stablecoin regulation, and whether it can ultimately be successfully implemented still depends on subsequent negotiations in the Senate.

Coinbase introduces perpetual contracts to the Base App through Hyperliquid, supporting up to 50x leverage

Coinbase announced the introduction of perpetual contract trading to the Base App through Hyperliquid, allowing eligible users to trade over 290 perpetual contract markets with a maximum leverage of 50 times, covering Bitcoin, Ethereum, and markets related to stocks and commodities. Coinbase's engineering lead Chintan Turakhia stated that perpetual contracts currently account for about 75% of the total trading volume in the crypto market and are the feature that high-frequency users of the Base App most want to see added.Related trades will be executed within the Base App, but Hyperliquid will be responsible for the actual execution, allowing users to stay within their existing wallets. Coinbase stated that the maximum leverage ratio available for different assets varies, and positions may be liquidated when losses exceed a certain threshold. This product is currently not available to jurisdictions such as the United States, the United Kingdom, Canada, and other areas that restrict leveraged crypto derivatives trading. This launch also reflects a shift in the product focus of the Base App from previously emphasizing social and creator features to trading, payments, and AI Agents. Base founder Jesse Pollak previously acknowledged that social and creator tokens did not bring the expected user growth, while prediction markets, perpetual contracts, and stablecoins have become stronger drivers of adoption.
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