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House passes 1st major regulation for crypto industry
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"Crypto Week" kicks off in the U.S. as lawmakers debate key bills that could reshape digital asset regulation. Here’s what the legislation means for Bitcoin, investors, and the future of crypto in America.
Bitcoin flipped Amazon to become the fifth-largest global asset, fueled by investor excitement for more regulatory clarity after “Crypto Week” in Washington.
Ark., was beaming as he left the House of Representatives chamber Thursday afternoon. After years of committee hearings and behind-the-scenes work -- plus a brief disruption from some House Republicans this week -- the House approved three measures aimed at establishing modern regulations for cryptocurrencies and other digital assets.
Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."
Crypto Week has seen U.S. lawmakers advance three key crypto bills, indicating a shift toward clear rules for stablecoins, tokens, and CBDCs.
12hon MSN
Stocks tied to crypto trading gained as well. Coinbase rose 4%, hitting an all-time intraday high surpassing its initial pop on its IPO date in 2021, and pacing for its fifth positive week in a row. Robinhood also added 4%. Ether treasury stock Bitmine Immersion continued its rally, jumping 12% Friday.
The crypto industry was headed for a landmark moment in the House with three bills that it helped push going to a vote. But a coalition of ultraconservative House Republicans staged a mutiny.
Over 1 in 5 top Trump appointees reported investments in crypto and other digital assets, far more than previous administrations, a Post analysis found.