The U.S. SEC has filed a formal rule proposal this week to modernize how crypto assets are held and managed, marking a significant step forward in regulatory clarity for the digital asset industry. The proposed rulemaking aims to address how investment firms can custody crypto assets under the Investment Advisers Act and Investment Company Act, building on the earlier proposal sent to the White House. As reported by the SEC, investment advisers and companies have already raised questions about how to hold crypto assets in compliance with current custody requirements, prompting the agency to use rulemaking to clarify the framework for crypto asset custody. This move comes as the SEC continues to provide regulatory clarity for the crypto industry, following the recent release of the proposed 'Reg Crypto' framework that provides a way for crypto startups to raise capital with certain exemptions under the Securities Act.
According to reports from AMBCrypto, Coinbase has formally requested the U.S. CFTC and SEC to provide clear and harmonized regulations for equity perpetual futures (perps). The exchange is specifically asking for equity perps to be treated as 'security futures' and for any entity registered with either the SEC or CFTC to be allowed to list equity perps without applying for additional licenses. As reported by AMBCrypto, this approach would avoid duplicate applications and oversight friction associated with separate regulatory requirements. Meanwhile, Hyperliquid Policy Center (HPC) and trade[XYZ] have joined the advocacy efforts, urging U.S. regulators to enable oil perpetual trading through a technology-neutral framework that would allow regulated trading of energy perpetual contracts. The organizations highlight that 24/7 platforms like Hyperliquid allow trading during supply shocks, such as weekend Middle East disruptions, when traditional oil futures markets remain closed.
Coinbase stock has surged nearly 28% from its August 18 lows to $185.33, driven primarily by regulatory developments rather than fundamental earnings improvements. The stock recovered from the $160s after posting one of its ugliest quarterly reports in history, with Q2 2026 revenue of $1.22 billion representing an 18.5% year-over-year collapse that missed Street estimates by nearly $73 million. The company's non-GAAP EPS loss of $1.36 against a consensus of -$0.44 was described as a crater, with transaction revenues falling 21.6% YoY to $599 million and subscription services dropping 12.2%. Despite these challenges, President Trump's direct call for Congress to pass a 'fair version' of the CLARITY Act with Coinbase CEO Brian Armstrong present at the White House has lit a fire under the crypto-equity complex. The CLARITY Act has cleared the House and passed through the Senate Banking Committee, with a procedural floor vote penciled in for September.
As reported by AMBCrypto, RWA perps have grown 4X in 2026, with Open Interest rising from $1 billion in Q1 to over $4 billion as of Q3. The segment is currently dominated by public equities, followed by metals, ETFs, and oil. According to the report, this growth could likely explode further if the U.S. grants access to these products, representing a significant market opportunity for regulated trading platforms. The HPC argues that the U.S. lost leadership on perps because the CFTC failed to clearly define whether they are futures or swaps, noting that approval of Kalshi and Coinbase crypto perps marked the beginning of much-awaited regulatory clarity. Meanwhile, Base Layer 2 is now processing $32 trillion in annualized stablecoin transfer volume, while Coinbase One surpassed one million subscribers for the first time.
COIN is currently trading at $185.33, above both the 7-day SMA ($183.80) and 20-day SMA ($163.09), with the full moving average stack confirming an upwards trend across all relevant timeframes. The Bollinger %B at 0.85 is pressing toward the upper band at $195.05, indicating strong momentum but compressing remaining headroom before technical resistance becomes dominant. The Stochastic %K at 84.44 has crossed above %D at 67.56, a reading deep into overbought territory that historically precedes either sharp acceleration or swift reversal. Immediate resistance sits at $191.46, with strong resistance at $197.58, while support levels include the $177.15 pivot and strong support down at $168.96. Derivatives data shows smart money running a 64.7% long bias with a 1.83 long/short ratio, while the consensus mean target is approximately $215 with analysts maintaining bullish outlooks despite the Q2 miss.
