Bitcoin<\/strong> surged above $120,000<\/strong> in Asian trade on Friday, continuing its impressive rally and heading for its fourth consecutive weekly gain<\/strong>. The latest push was driven by optimism surrounding U.S. cryptocurrency legislation, with the U.S. House of Representatives<\/strong> clearing three bills aimed at establishing a clearer regulatory framework for digital assets.<\/p>\n\n\n\n At 01:55 ET (05:55 GMT), Bitcoin was up 1.7%<\/strong> to $120,552.80<\/strong>, just below its record highs of $123,000<\/strong> earlier in the week. Although the cryptocurrency hit new heights, profit-taking<\/strong> at these levels, coupled with concerns over the final passage<\/strong> of the crypto bills, slightly tempered the gains.<\/p>\n\n\n\n On Thursday<\/strong>, the U.S. House of Representatives<\/strong> approved three landmark bills<\/strong> aimed at establishing a regulatory framework for the crypto industry. The most significant piece of legislation, the GENIUS Act<\/strong>, passed with bipartisan support in a 308-122<\/strong> vote, following its approval by the Senate in mid-June. This bill is now on its way to President Trump\u2019s desk<\/strong> for final approval.<\/p>\n\n\n\n The GENIUS Act<\/strong> mandates that stablecoin issuers<\/strong> maintain high-quality, dollar-equivalent reserves<\/strong> and undergo regular audits, while providing both federal<\/strong> and state-level supervision<\/strong>. This is expected to enhance trust in stablecoins, one of the most widely used types of cryptocurrency.<\/p>\n\n\n\n Alongside the GENIUS Act, two additional bills<\/strong> also passed the House:<\/p>\n\n\n\n These developments signal significant progress during \u201cCrypto Week\u201d<\/strong>, with market advocates and policymakers hailing the move as a crucial step toward a stable regulatory environment for the crypto industry.<\/p>\n\n\n\n However, while the bills have passed the House, Senate approval<\/strong> is still required for the non-stablecoin legislation, and the market remains cautious until the final passage. Once fully implemented, these regulations could establish a clearer legal framework, potentially encouraging greater institutional adoption and consumer confidence in cryptocurrencies.<\/p>\n\n\n\n Most altcoins<\/strong> saw sharp gains<\/strong> on Friday, fueled by the optimism surrounding the regulatory developments.<\/p>\n\n\n\n In the meme coin<\/strong> category, Dogecoin (DOGE)<\/strong> surged 15.1%<\/strong>, and $TRUMP<\/strong> also gained 8%<\/strong>.<\/p>\n\n\n\n The momentum for Bitcoin and the broader crypto market remains strong, fueled by favorable regulatory developments and increased optimism for a clear, stable framework. Investors are closely monitoring the Senate<\/strong>‘s next steps on these bills, which could shape the future of cryptocurrency regulation in the U.S. The ongoing surge in altcoins<\/strong> also highlights growing investor confidence across the market.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin surged above $120,000 in Asian trade on Friday, continuing its impressive rally and heading for its fourth consecutive weekly gain. The latest push was driven by optimism surrounding U.S. cryptocurrency legislation, with the U.S. House of Representatives clearing three bills aimed at establishing a clearer regulatory framework for digital assets. At 01:55 ET (05:55 …<\/p>\n","protected":false},"author":9,"featured_media":99111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[],"class_list":["post-116758","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=116758"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116758\/revisions"}],"predecessor-version":[{"id":116759,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116758\/revisions\/116759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/99111"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=116758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=116758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=116758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}U.S. House Approves Three Key Crypto Bills<\/strong><\/h3>\n\n\n\n
\n
Challenges Ahead for Full Regulatory Clarity<\/strong><\/h3>\n\n\n\n
Altcoins Surge Amid Optimism<\/strong><\/h3>\n\n\n\n
\n
Conclusion<\/strong><\/h3>\n\n\n\n