Shares of U.S.-listed cryptocurrency-related companies surged on Friday after Bitcoin reached a new all-time high, just days before the U.S. Congress is set to begin debating major cryptocurrency legislation.
Starting July 14, the U.S. House of Representatives will review three key cryptocurrency bills that could finally establish a regulatory framework for the digital asset sector—one that industry leaders say is long overdue, according to news agencies.
The anticipated reforms come during what has been dubbed “Crypto Week”, with lawmakers aiming to bring clarity and stability to the crypto landscape in the United States.
Analysts believe the proposed laws could reverse the exodus of crypto businesses fleeing the U.S. due to regulatory uncertainty and aggressive enforcement.
“We expect capital, which was previously sidelined due to regulatory uncertainty, to re-enter the market,” said Jag Conner, Head of Derivatives Trading at Bitfinex Crypto Asset Management.
A more predictable legal environment, experts say, could also encourage companies to adopt Bitcoin in their treasury strategies, as firms like Strategy have done, viewing it as a long-term store of value.
“We’re seeing a growing trend of integrating Bitcoin into corporate treasuries, reflecting increased institutional confidence,” said Nikolaj Sondergaard, analyst at Nansen.
In recent trading, Bitcoin rose 4% to a record $118,071.19, pushing its year-to-date gains to 26%. The rally is being driven by renewed investor enthusiasm and hopes for a friendlier U.S. regulatory climate.
If passed, the upcoming legislation could mark a historic shift in how digital assets are treated in one of the world’s largest financial markets.
