Bitcoin Rises on Optimism Over U.S. Regulation — Market Talk
Bitcoin rises on optimism that U.S. regulation will encourage wider cryptocurrency adoption. The House on Thursday passed the Genius Act bill that will create a new regulatory framework for stablecoins, a cryptocurrency pegged to another asset such as the dollar. The House also passed a broader crypto market structure bill known as the Clarity Act. Meanwhile, the Financial Times reported that Trump will sign an executive order that opens the retirement market up to alternative investments including cryptocurrencies. "The regulatory environment remains supportive and we see further upside in crypto assets," Jefferies economist Mohit Kumar says in a note. Bitcoin rises 0.8% to $120,444, LSEG data show. ([email protected])