Bitcoin Surges Above $80,000 as US Regulators Greenlight Tokenized Stocks
The cryptocurrency market has seen a significant surge in recent days, with Bitcoin (BTC) and other major assets rising in tandem. On Friday, BTC surpassed $80,000 for the first time since September 4, reaching an intraday high of over $81,300. Ethereum (ETH), the second-largest cryptocurrency by market cap, also saw a brief rise above $2,640 during U.S. midday trading.
The rally was driven in part by regulatory developments in the United States. On Thursday, the SEC introduced an 'innovation exemption' that allows eligible tokenized securities trading platforms to temporarily trade tokenized versions of certain U.S.-listed stocks on-chain. This move aims to promote the U.S. capital market's transition to on-chain trading.
The CFTC also eased restrictions by issuing a new 'no-action' position for passive software providers, exempting them from registering as introducing brokers under certain conditions.