HSBC: Coinbase may prefer to settle.

HSBC suggested that Coinbase might prefer a compromise proposal instead of having no legislation at all. This situation is seen as an important step towards addressing the legal uncertainties in the cryptocurrency market.

The report highlighted that Ripple and Coinbase have used significant amounts of capital to fund Fairshake PAC. It was noted that this capital was provided to ensure that congressional candidates pass clear legal rules.

HSBC envisions a scenario where the Senate Agriculture Committee's proposal could first pass, allowing authority to be given to the Commodity Futures Trading Commission (CFTC). This could occur before issues related to the Presidential Commission (SEC) are resolved. Thus, a step would be taken towards the regulation of cryptocurrency laws.