Bitcoin Remains Near Record High as Congress Debates Pro-Crypto Legislation
Bitcoin has achieved a new high on Monday, reaching $123,000 for the first time as traders’ sentiments are buoyed by a prospect of regulatory tailwinds and expanding digital currency adoption. The price, then, pared its gains to slightly lower the $120,000 level afterward.
On July 14, the U.S. House of Representative began debating on three pro-industry bills, which were expected to provide a regulatory framework on U.S. crypto trading that has been highly demanded by digital asset insiders.
President Donald Trump has prompted lawmakers to revisit previous rules on cryptocurrencies, marking Washington’s shifting stance on crypto from the more stringent policies seen during the Biden era, which saw many crypto firms under lawsuits…
