Bitcoin price today: up near $119k amid legislative boost; altcoins extend rally

The world’s largest cryptocurrency last traded 0.6% higher at $119,001.6 as of 02:25 ET (06:25 GMT).

The token surged to record highs above $123,000 last week, but has since pulled back below $120,000 and is now trading in a consolidation phase near that level.

Crypto legislation advances in US, but investors remain cautious

Last week, President Donald Trump signed into law the U.S. GENIUS Act, establishing a federal regulatory framework for stablecoins. 

The law mandates stablecoin issuers to maintain reserves in liquid assets, including dollars or Treasuries, and to provide monthly disclosures. 

The move is seen as a major step toward legitimizing stablecoins, a sector currently valued at more than $260 billion, and integrating them more fully into the financial system.

In addition to the GENIUS Act, the House of Representatives passed two other key bills.

The CLARITY Act aims to define whether digital tokens fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). 

The second, the Anti-CBDC Surveillance State Act, prohibits the Federal Reserve from issuing a central bank digital currency without explicit approval from Congress.

The three bills signaled a unified push during “crypto week” to reshape U.S. crypto regulation. 

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Crypto price today: altcoins extend gains, XRP near record highs

Most altcoins extended gains on Monday, building on last week’s rally fueled by broad optimism surrounding “crypto week” and U.S. legislative momentum.

World no.2 crypto Ether rose 4.1% to $3,801.89, its highest level in more than seven months.

World no. 3 crypto XRP gained 3.8% to $3.547. It reached a record high of $3.67 last week.

Solana jumped 6.6%, and Cardano added 6.1%, while Polygon jumped 5.2%.

Among meme tokens, Dogecoin surged 10.3%, while $TRUMP jumped 11%.