Bitcoin Rises on Hopes New Regulation Will Boost Demand — Market Talk

Bitcoin rises, supported by hopes that recent U.S. regulatory milestones could encourage wider demand for cryptocurrencies. President Trump on Friday signed into law the Genius Act that provides a regulatory framework for stablecoins, a cryptocurrency tied to other assets like the dollar. This represents a "significant victory for the crypto sector that has been advocating for a regulatory framework to enhance its legitimacy," Tickmill Group's Patrick Munnelly says in a note. The House passed two other crypto bills last week. This includes the Clarity Act that creates a new market structure for digital assets and the Anti-CBDC Surveillance State Act which bans the Federal Reserve from issuing a new digital currency. Bitcoin rises 0.8% to $117,878, LSEG data show. ([email protected])