SEC and CFTC regulatory moves boost Bitcoin despite stalled CLARITY Act
Bitcoin rallied on September 18, rising nearly 6.3% to $81,014 amid new developments from the SEC and CFTC aimed at advancing crypto regulation in the absence of legislative progress. The Senate failed to advance the CLARITY Act earlier that week, but SEC Chair Paul Atkins emphasized continued regulatory efforts under Project Crypto. On September 17, the SEC introduced a five-year Innovation Exemption for tokenized U.S. stocks and custody rules, while the CFTC submitted new crypto regulations for review. The market response has been positive as these actions signal federal regulators are moving forward with rulemaking despite congressional setbacks. JPMorgan analysts noted Bitcoin's favorable hedging position compared to gold could provide further support if short interest in ETFs like IBIT declines. Ether and Solana also rose, reflecting broader optimism about regulatory clarity for the crypto sector.
Tickers: $GLD
Topics: Bitcoin CFTC CLARITY Act cryptocurrency rally SEC