Why are crypto stocks surging today? Coinbase, Circle share prices rise up to 18% on these new stablecoin rules

Crypto-related stocks surged on Monday after news of a deal on a key stablecoin provision in the CLARITY Act, a U.S. crypto bill which has been stalled in Congress for months. The bill establishes a regulatory framework for digital commodities—”defined by the bill as digital assets that rely upon a blockchain for their value”—and would enable the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission to regulate cryptocurrencies. The Senate is planni...