Bitcoin tops US$120,000 milestone as US Congress kicks off ‘Crypto Week’ — Capital Brief
The news:
Bitcoin surged past US$120,000 as US lawmakers prepared landmark crypto legislation during “Crypto Week,” and regulators cleared the way for banks to enter custody services.
The context:
The US House of Representatives will be voting on three key bills this week, which industry supporters have dubbed “Crypto Week”. The GENIUS Act, which would require stablecoins to be backed by liquid reserves; the CLARITY Act, which would set broader market structure rules for crypto, and the Anti-CBDC Surveillance State Act, which would ban the Fed from issuing a digital currency.
The GENIUS Act has already passed the Senate.
Meanwhile, US regulators on Monday issued a
joint statement outlining risk-management considerations for banks…
