The US Senate is scheduled to hold a procedural vote on September 15 on the major crypto market structure bill known as the Clarity Act, which could decide if the legislation moves forward.
Bitcoin has risen about 20% to around $80,000 from $60,000 over the summer, with investors and analysts viewing clear regulatory rules as a potential major catalyst for institutional investment.
The revised 630-page bill includes over 114 provisions requested by Democrats, though it still faces opposition from Democratic lawmakers over existing conflict-of-interest and ethics provisions.