Bitcoin Holds Above $64K Amid US Regulatory Developments

Bitcoin maintained its recovery above $64,000 on Saturday as investors absorbed fresh U.S. regulatory developments and growing institutional adoption.

The world's largest cryptocurrency traded at $64,197.6 by 13:15 ET (17:15 GMT), up 0.60% on the day after reaching an intraday high of $64,489.8.

A key policy change took effect under a housing bill automatically becoming law, imposing a four-year ban on U.S. central bank digital currency (CBDC) through the end of 2030.

This restriction removes what many in the crypto industry have viewed as a potential competitor to privately issued stablecoins like USDC, issued by Circle (NYSE:CRCL).

Circle received final approval from the Office of the Comptroller of the Currency to establish a federally supervised national trust bank, paving the way for OCC-supervised management of USDC reserves.