Bitcoin Reclaims $80K as SEC and CFTC Advance Regulatory Frameworks

Bitcoin price surged to $80,000 as the SEC and CFTC moved forward with crypto-related regulatory initiatives following the failure of the CLARITY Act. The SEC introduced a five-year 'Innovation Exception' program to facilitate the trading of tokenized US stocks on-chain, aiming to improve settlement speed and transparency. Simultaneously, the CFTC submitted a new crypto market framework for review to the White House and issued a no-action position to protect certain software developers from being classified as introducing brokers.