Bitcoin Surges Past $85,000 Amid Regulatory Uncertainty and Tokenisation Push

The global digital asset market showed an unusual pattern of recovery after the U.S. Senate rejected the Clarity Act, also known as the Digital Asset Market Structure Act. Despite a major negative shock, Bitcoin broke back above $81,000 on September 19 and rose to around $85,000 on September 22 for the first time in eight months.

The move was seen as a friendly signal from the SEC on tokenised stocks, which helped crypto-related stocks rebound. The CFTC had also moved to fill the legislative vacuum by writing its own rules. Falling international oil prices and expectations for a U.S.-China summit added to the tailwind for risk assets, lifting Bitcoin further.

As the government prepares to implement digital asset taxation from next year, debate continues over fairness with the financial investment income tax. The People Power Party has decided to review the current taxation system again, including the timing of digital asset taxation scheduled for January 2027.