Bitcoin Tops $80k, Surges on Regulatory Boost
The price of Bitcoin surged on Friday, reaching an all-time high of $81,252.6 and topping the $80k mark for the first time since September 7.
This sharp increase came after positive regulatory moves from the U.S. market watchdog and a congressional committee helped traders look past the Clarity Act's Senate failure.
The SEC introduced an exemption allowing companies to offer trading in blockchain-based, or 'tokenized' stocks and other securities. This five-year exemption will enable platforms facilitating the trade of tokenized stocks, which are essentially digital assets representing a stock traded chiefly on a blockchain.
The 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.