Crypto Markets Rise as US Clarity Act Gains Momentum
Cryptocurrency markets experienced a rally on Monday, driven by increased optimism over the potential passage of the U.S. Clarity Act this year. The bill's chances improved from around 14% to nearly 30%, according to Polymarket data, which boosted risk appetite across digital assets. Bitcoin approached $80,000 again and rose as much as 1.5%. Shares of crypto-related firms like Coinbase Global Inc. surged by up to 8%, while Circle Internet Group Inc. climbed nearly 6.4%. The Republican-led Senate released a revised draft addressing key concerns, including granting the Treasury Secretary authority in case of destabilizing deposit movements and adding ethics rules for officials holding cryptocurrencies. The updated bill includes provisions requiring U.S. presidents or elected officials to divest from virtual assets or place them into blind trusts, with penalties otherwise applied. Analysts view these changes as incrementally positive for major crypto firms.
Topics: crypto market movement regulation Treasury US politics