Coinbase (Coins) best positioned platform to ride US US regulations: Bernstein of the US: Bernstein

The crypto industry is expected to join the US financial mainstream as the regulatory environment improves, and the Coinbase (coin) is properly positioned to benefit from these tailwinds, Broker Bernstein said in a Monday report.

Bernstein started the crypto exchange scope with an outperform rating and a price target of $ 310. Sharing dropped 2% to $ 185.20 in early trading.

The clarity of regulation will result in more competition for Coinbase from FinTech, Broker and Bank companies, the report said.

However, a “strong bull market and rising us in the dominance” is expected to be more than just the offering of market sharing and pricing pressures, analysts led by Gautam Chhugani wrote.

An improvement of regulation backdrop under Donald Trump’s new administration was viewed as a large tail for digital possessions, and the President promised to make the US that “Crypto capital of the world. “

The Securities and Exchange Commission (SEC) is formed by the new Crypto Task Force Commissioner Hester Peirce led to draft new regulations for the industry.

Coinbase has been well done to varying beyond the trade, the report said, and the exchange now has a strong presence in US dollar stablecoins and crypto yield services, such as staking.

Bernstein said Coinbase is expected to grow nonprofit revenues around a 31% compound annual growth rate (CAGR) between 2024-2026.

It provides a “strong balance in the cycle of trading revenues,” the report added.

Coinbase has recently been securing the registration of FIU, which provides a way for returning to the Indian market, the company said in a blog post earlier this month.

Read more: Coinbase plans India Comeback after a regulation of regulation in FIU