According to Reuters, the U.S. House of Representatives will debate three important cryptocurrency-related bills this week, namely the Genius Act, the CLARITY Act and the Anti-CBDC Surveillance State Act, which may provide the cryptocurrency industry with the required regulatory transparency.
For cryptocurrencies that have been facing a severe U.S. law enforcement environment, the advancement of the relevant bills is undoubtedly reversing and long-awaited good news. This has also started to make the cryptocurrency trading market surge since last week, prompting Bitcoin to hit a new high.
According to data from the CoinMarketCap website, the price of Bitcoin continues to fluctuate and rise. As of 11:15, it has risen to $119,921.26, still at a historic high, and may be just one step away from breaking $120,000.
The rise in Bitcoin also drove the cryptocurrency market to rise across the board. Ethereum rose 1.82% to $3,004; Ripple (XRP) rose 4.02% to $2.88; SOL rose 2% to $164.75.
Bitcoin price rose strongly in the early trading on Monday (July 14), and after breaking through the $119,000 mark (about S$150,000), it continued to hit a new high and approached the $120,000 mark.