Coinbase shares rise as Bitcoin crosses $85,000 amid regulatory proposals

Coinbase Global shares traded higher Monday morning as Bitcoin crossed $85,000, extending a weekend rally across the digital asset market. The article linked the strength to coordinated regulatory actions late the previous week and to expectations that greater regulatory visibility could support cryptocurrency prices. The Commodity Futures Trading Commission and the Securities and Exchange Commission introduced joint proposals on September 17 aimed at establishing a formal oversight framework for crypto asset transactions. The proposals followed the failure of the Clarity Act to advance in the U.S. Senate. Coinbase was described as the largest publicly traded cryptocurrency exchange in the United States and as positioned to benefit from the regulatory shift. Coinbase shares were up 5.81% at $205.54 during premarket trading on Monday, according to Benzinga Pro data.