Shares of Coinbase Global jumped Tuesday after a major hurdle facing a key crypto bill was cleared.

The White House and a group of senators led by Sen. Cynthia Lummis (R., Wyo.) and Sen. Bernie Moreno (R., Ohio) reached an agreement on an ethics provision in the Clarity Act on Monday, according to people familiar with the matter.

To be sure, significant obstacles remain. The bill would need some Democratic support to get the 60 votes needed to clear the Senate. It already has passed the House.

Shares of Coinbase, the country's largest crypto exchange, are up 10% Tuesday afternoon. Stablecoin company Circle Internet Group gained around 7%. Bitcoin recently traded above $66,000, up more than 1% on the day.