The U.S. House pushed forward key crypto legislation on July 16, sparking a sharp rally in digital assets. Bitcoin surged to nearly $119,500, while altcoins and crypto-related stocks posted strong gains. The momentum stems from optimism around the GENIUS Act and related bills focused on stablecoins and anti-CBDC measures. A last-minute shift in GOP support, reportedly influenced by Donald Trump, helped advance the bill, fueling market confidence. Investors see this as a step toward clear regulatory frameworks, paving the way for greater institutional adoption and mainstream growth of digital currencies.
A U.S. House vote advanced crypto-focused bills including the GENIUS Act, sending Bitcoin to nearly $119.5K. Altcoins and crypto stocks soared as GOP support shifted, raising hopes for stablecoin regulation and anti-CBDC protections. Markets reacted positively to the expected regulatory clarity and institutional crypto adoption.
crypto regulation, stablecoin legislation, market rally
