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Crypto King Mazhar

01/23 16:59

Bitcoin nears record high as SEC unveils plan to r

Bitcoin nears record high as SEC unveils plan to revamp crypto rulesBitcoin-nears-record-high-as-SEC-unveils-plan-to-revamp-crypto-rules-757x426.webp

  • Bitcoin value surges close to record highs during turbulent trading.
  • The US SEC unveils task force to reshape cryptocurrency regulations.

Bitcoin grabbed attention on Tuesday as its price surged during a volatile trading session, approaching its previous session’s record high. The rise followed a significant announcement from the US Securities and Exchange Commission (SEC), which unveiled plans to establish a task force dedicated to overhauling digital asset regulations.

The world’s largest cryptocurrency had earlier reached an all-time high of $109,071 on Monday, coinciding with Donald Trump’s inauguration as the self-proclaimed “cryptocurrency president.” Investors initially celebrated his pledges to support the cryptocurrency industry, but enthusiasm dimmed after cryptocurrency failed to appear in Trump’s first-day executive orders. Despite this, Bitcoin rose 3.8% on Tuesday, while Ethereum, the second-largest cryptocurrency by market capitalisation, gained 1.4%.

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