Bitcoin price today: Token surpasses $81,000 after US Senate committee advances crypto regulation bill; Ether, XRP rally

Bitcoin prices jumped above $81,000 on Friday amid a rally in the broader cryptocurrency market, after the US Senate Banking Committee advanced a long-awaited US digital asset market structure bill, a legislation that would create regulations for cryptocurrencies.

Bitcoin prices were up 2.44% at $81,517.46, Ethereum price gained 1.03% to $2,289.69, Tether rose 0.01% to $0.9996, while XRP prices rallied 4.44% to $1.49.

Among other cryptocurrencies, Solana prices gained 1.35%, Dogecoin prices surged 2.16%, and Cardano prices gained 2.57%

The Republican-led Senate Banking Committee on Thursday advanced the so-called Clarity Act, which would establish the Commodity Futures Trading Commission (CFTC) as the primary regulator for large parts of the crypto industry while the Securities and Exchange Commission would retain authority to oversee digital securities.

The bill will now proceed to the Senate floor, where lawmakers will need to combine it with another version from the Agriculture Committee, which has jurisdiction over the CFTC.

Why The Clarity Act is Important?

The Clarity Act attempts to address one of the ecosystem’s biggest unresolved challenges i.e. regulatory clarity around digital assets. Questions around whether a token should be treated as a security, commodity, or a separate asset class altogether have often been debated in courtrooms instead of being clearly addressed through regulation.

Ashish Singhal, Co-Founder at CoinSwitch noted that despite over 40% of Americans already having exposure to cryptocurrencies, the industry has largely operated without a clearly defined legislative framework for more than a decade.

“What makes this development important is that the conversation is now shifting from uncertainty towards structured policymaking. As institutional participation in crypto continues to increase through ETFs, traditional finance integration, and broader market adoption, clearer frameworks become essential for long-term capital allocation and industry growth,” said Singhal.

The market is viewing the CLARITY Act as a strong signal that crypto regulation in the US is entering a more mature phase, he said, adding that frameworks like these could eventually become important global reference points for how digital assets are regulated and integrated into the broader financial system.

Raj Karkara, COO, ZebPay believes that the advancement of the CLARITY Act through a key Senate hurdle marks another important step toward establishing a more structured and transparent regulatory environment for the global digital asset industry. Alongside other recent legislative developments in the US crypto ecosystem, this signals a growing recognition of the need for balanced frameworks that support innovation while strengthening market integrity and investor confidence.

“The progress of initiatives such as the CLARITY Act also reflects how policymakers across major economies are increasingly working toward integrating digital assets into the broader financial infrastructure in a more structured and accountable manner. As the industry matures further, collaborative and forward-looking regulation will be key to unlocking the next phase of global growth, innovation, and adoption for the crypto sector,” said Karkara.

Meanwhile, broader sentiment also stayed supportive, with US stocks extending gains on tech strength and optimism around US President Donald Trump’s meeting with Chinese President Xi Jinping in Beijing.

“In this type of market, Bitcoin usually leads before capital rotates into Ethereum, altcoins, and then higher-risk altcoins. Investors should avoid overexposure to low-liquidity tokens just because sentiment has improved,” said CoinSwitch Markets Desk.

(With inputs from Agencies)

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