Bitcoin reclaimed the $80,000 level, surging to a two-week peak above $81,000 on Friday, as the SEC and CFTC, the two largest US regulators, continued advancing their crypto regulatory agendas despite the failure of the CLARITY Act in Congress. The SEC introduced a five-year Innovation Exception program to make it easier for qualifying platforms to trade tokenized US stocks on-chain, while the CFTC submitted its own crypto regulation framework, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, for review by the White House Office of Information and Regulatory Affairs. The commodity watchdog also issued a no-action position protecting certain software developers from being treated as introducing brokers. These developments reassured markets that the regulatory process had not stalled, with over $180 million in bitcoin shorts liquidated as the price rallied.
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