Fueled by anticipation of a more accommodating regulatory environment in the United States, Bitcoin’s value saw an upward trend.
Legislators in the House of Representatives approved the “Genius Act” on Thursday. This piece of legislation aims to establish a novel regulatory system specifically for stablecoins, a type of cryptocurrency whose value is linked to a reserve asset, often the U.S. dollar.
Additionally, the House gave the green light to the “Clarity Act,” a comprehensive bill addressing the overall structure of the cryptocurrency market.