Bitcoin Hits One-Week High as Trump Backs CLARITY Act Ethics Rules

Noida, Sep 15 (APAC Media): Bitcoin climbed nearly 2% on Monday, recovering from last week’s losses and reaching a one-week high as investors grew more hopeful that the U.S. Senate could advance a major cryptocurrency bill.

The world’s largest cryptocurrency rose 1.8% to $78,761.80 by 17:54 1:12 IST, after falling 3.2% last week.

Market attention was focused on the Senate, which could vote as soon as Tuesday on the Clarity Act, a landmark piece of legislation aimed at establishing a regulatory framework for cryptocurrencies and digital assets.

The bill cleared the Senate Banking Committee in May but has since stalled as lawmakers struggled to secure the 60 votes required for passage.

Optimism improved after Republican lawmakers leading the legislation released an updated version late Sunday, saying it addressed key concerns raised by Democrats.

“President Trump voluntarily agreed to new ethics provisions holding every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in U.S. history,” Senator Cynthia Lummis, a Republican from Wyoming, said on social media.

She said the revised legislation incorporated more than 120 Democratic demands and urged lawmakers to support the measure.