Bitcoin has reached an all-time high, surpassing $118,000, as a flood of money flows into spot bitcoin ETFs, making cryptocurrency investing accessible to millions. A weak US dollar and President Donald Trump’s administration’s pro-digital currency stance have also contributed to bitcoin’s recent price surge. Last month, the Senate enacted legislation to regulate stablecoins, the first of many initiatives aimed at bolstering the industry’s credibility and reassuring customers.
The fast-moving legislation follows a 2024 campaign cycle in which the cryptocurrency sector was among the top political spenders in the country, demonstrating its expanding power in Washington and beyond.
The bill, known as the GENIUS Act, would create safeguards and consumer protections for stablecoins, a type of cryptocurrency that is typically pegged to the US dollar. The term represents Guiding and Establishing National Innovation for US Stablecoins.” The House of Representatives will vote on the GENIUS Act next week as part of Congress’ efforts to strengthen the country’s cryptocurrency position. US-listed crypto stocks rose on Friday as Bitcoin reached a new high, ahead of a historic week that may solidify regulatory triumphs for the cryptocurrency industry.
Also Read:
A Visionary Leader’s Journey from Legal to Energy Landscape: Salam Abou Hanna
A Passionate Entrepreneur’s Journey in Tech and Affiliate Marketing: Mukul Kaushik
About Author
