Coinbase stock (COIN) has hit a new all-time high for the first time since 2021, following several bullish outcomes from the crypto industry. With the US House passing several pro-crypto legislations on Thursday, including the GENIUS Act, crypto and related stocks are surging.

COIN stock is up 5% today, now trading at an ATH of $432. Over the past 52 weeks, COIN stock has surged 65%, with an even more impressive leap of 135% in just the last three months. Amid the current Bitcoin-driven rally, the stock has gained nearly 6% over the past five trading days. Now, the passage of all three crypto bills has added more fuel to Coinbase stock to continue surging. Robinhood (HOOD), stablecoin issuer Circle (CRCL), and Citizens Financial (CFG) are also trading higher today.

Looking ahead, Coinbase (COIN) expects Q2 subscription and services revenue between $600 million and $680 million. Meanwhile, analysts anticipate a 21% YOY decline in EPS to $0.84 for the quarter, with full-year EPS forecast at $4.90, down 35% YOY. However, a rebound is expected in the next fiscal year, with EPS projected to rise 26% to $6.18. Its next two quarters of earnings will likely prove crucial to showing how much further Coinbase shares can go, now that these crypto bills will likely be passed. Analysts are calling COIN a 10/10 buy at press time, forecasting even further ATHs in the coming months to $510.

Also Read: US House Officially Passes GENIUS, Clarity and Anti-CBDC Acts

Coinbase (COIN) Thrives Thanks to New Crypto Legislation

“We are getting incredibly close to finally having clear rules for crypto to grow this industry in the United States of America,” Coinbase CEO Brian Armstrong said on Thursday. The CEO has long been an advocate of crypto adoption and clearer legislation in the US. The country has taken a new approach to crypto laws since US President Donald Trump returned to office.

Trump has delivered serious protection to the rising cryptocurrency sector, adding that he wants the US to take the lead in governing the digital asset domain on a global platform. This development has given birth to a new infrastructural alignment that will play an instrumental role in defining the role of cryptocurrency in the current global financial regime.

Also Read: Global Cryptocurrency Market Cap Hits Record $4 Trillion

Now passed, the Anti-CBDC, GENIUS, and CLARITY acts can deliver a credible boost to the cryptocurrency domain, delivering the sector a much-needed legal identity structure and format. This will help in inspiring other nations to seek inspiration from the US’s legal format, triggering a chain reaction of sorts that may help increase the influx of users interacting with the cryptocurrency domain.