Bitcoin price today: rises past $120k as US House passes key crypto bills

Investing.com-- Bitcoin rose above $120,000 in Asian trade on Friday, heading for its fourth consecutive weekly gain as the U.S. House of Representatives cleared three bills aimed at creating a better regulatory framework for cryptocurrencies.

The world’s largest cryptocurrency last traded 1.7% higher at $120,552.8 as of 01:55 ET (05:55 GMT).

The token had surged to record highs above $123,000 at the start of the week. However, profit taking at record levels and concerns around the final passage of crypto bills tempered gains.

Three crypto bills clear US House vote

The U.S. House of Representatives on Thursday approved three landmark bills aimed at establishing a clear legal framework for digital assets. 

The centerpiece, the GENIUS Act, sailed through the House with a bipartisan 308‑122 vote, following its Senate approval in mid‑June. The measure now heads to President Trump’s desk for final approval.

The GENIUS Act requires stablecoin issuers to hold high‑quality, dollar‑equivalent reserves and undergo regular audits, while establishing both federal and state supervision

Two additional bills also passed the House. The CLARITY Act aims to define whether digital tokens fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). 

The second, the Anti-CBDC Surveillance State Act, prohibits the Federal Reserve from issuing a central bank digital currency without explicit approval from Congress.

The developments signaled a unified push during “crypto week” to reshape U.S. crypto regulation. Market advocates and policymakers hailed the move as a critical advancement toward stable regulatory footing.

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However, the package still faces hurdles. The two non‑stablecoin bills head to the Senate for approval, and the market is awaiting final passage before fully embracing a stable regulatory environment.

Crypto price today: altcoins jump; XRP, Dogecoin surge over 15%

Most altcoins saw very sharp gains on Friday amid broader optimism about “crypto week”.

World no.2 crypto Ethereum jumped 8.2% to $3,674.83, its highest level in more than six months.

World no. 3 crypto XRP surged 15.4% to $3.63.

Solana climbed 7%, while Cardano jumped 14%, and Polygon added 10%.

Among meme tokens, Dogecoin surged 15.1%, while $TRUMP also gained 8%.

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