Bitcoin set a record number above $ 120,000, where Congress is considered encryption bills

Bitcoin achieved a record On Monday, in the optimism of investors that the cryptocurrency may be soon with the legislation that moves through the Congress led by Republicans.

On Monday, investors paid Bitcoin over a threshold of $ 120,000 for the first time, connected to the highest level higher than $ 123,000 before exfoliating some of these gains and heading closer to $ 120,000. This brings crying currency gains throughout the year to 28.5 %.

Bitcoin’s rise comes before the House of Representatives, given a series of encrypted currency bills this week, which, if passed, can give the digital asset industry a regulatory framework that you have long followed.

Republicans embraced the assets of encryption and digital origins after the president Donald Trump The campaign pledged to make the United States “the capital of encryption in the world” and “great bitcoin power”, with the legislators in both councils who are progressing on this issue.

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The Trump family also launched commercial projects in the encryption space and digital assets, as it launched the world of Liberty Financial as well as the Mimi currency last year.

Among the list of bills that are scheduled to be considered by Republicans during what they called the “encryption week” is the genius law that was passed in the Senate, which will create federal regulatory rules for Dollar Stablecoins.

the Genius It would determine the Stablecoin payment as a digital origin used for payment or settlement linked to a fixed cash value. In addition, it will establish procedures for companies that seek to obtain licenses to issue Stablecoins, as well as reserve requirements and regulatory standards for exporters.

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Other bills to be considered in the House of Representatives include a clarity of the digital asset market and the CBDC case law.

Simon Peters, an analyst at Itoro, indicated in a Reuters report that the weakness of the US dollar, which is near the lowest level in three years, contributed to Bitcoin’s high record.

He added that the study of Congress is in Encryption bills It can provide an additional boost for the current operation of digital assets.

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“The developments on these pieces of encryption legislation can provide an additional direction for the current assembly. We are waiting for a vision,” Peters said.

Reuters contributed to this report.