Bitcoin Rises Past Clarity Setback on SEC Tokenization Exemption

Bitcoin rose to $77,560.9 on Friday, reversing most of its weekly losses as markets looked past the failure of the Clarity Act in Congress.

The price increase was aided by encouraging regulatory moves from the SEC, which approved a five-year exemption allowing companies to offer trading in blockchain-based stocks and securities.

This exemption could help bring digital assets more in line with traditional finance and is expected to further the SEC's goal of facilitating 24-hour trade.

The broader cryptocurrency market also advanced, as risk appetite was boosted by falling oil prices and Treasury yields. Dovish signals from the Bank of Japan added to the optimistic sentiment.