Crypto markets surge on ceasefire, U.S. crypto bill

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MG News | June 25, 2025 at 11:21 AM GMT+05:00

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June 25, 2025 (MLN): Cryptocurrency markets surged following two major developments, the declaration of a ceasefire between Iran and Israel by President Trump, and the introduction of significant pro-crypto legislation by U.S. Republican senators.

By midday, Bitcoin had climbed past the $105,000 mark, while Ether rose above $2,400 and XRP reached $2.19.

The broader risk-on sentiment also lifted stock markets amid the Mideast de-escalation. However, the rally in digital assets was also powered by legislative momentum in Washington.

Republican senators unveiled a sweeping bill aimed at creating a clear regulatory framework for cryptocurrencies, as CNBC reported.

The proposed legislation would define when a digital asset is a commodity or a security, allow crypto exchanges to register with the Commodity Futures Trading Commission (CFTC), and reduce the regulatory role of the Securities and Exchange Commission (SEC).

This marks a major reversal from the approach taken by President Biden’s SEC Chair Gary Gensler, who has advocated for tighter oversight of the crypto industry.

The legislation was introduced by Senate Banking Committee Chairman Tim Scott of South Carolina and Senator Cynthia Lummis of Wyoming, who leads the Senate's Digital Assets Committee.

Robinhood CEO Vlad Tenev, speaking on CNBC’s “Squawk Box,” praised the initiative as vital for the U.S. to regain leadership in the crypto sector, which he said has lagged behind markets such as Europe.

This move follows last week’s passage of a stablecoin bill in the Senate, a milestone for the crypto industry.

The bill, now headed to the House, prohibits yield-bearing consumer stablecoins, though it differs in terms of which agency will regulate the market.

Visa CEO Ryan McInerney, commenting on the Senate version the Genius Act told CNBC’s “Squawk on the Street” that Visa is embracing stablecoins as part of its digital payments strategy.

Meanwhile, investor confidence in the sector was further boosted as crypto firm Digital Asset raised $135 million in funding.

Major financial institutions, including Goldman Sachs, BNP Paribas, and Citadel Securities, backed the round.

Digital Asset plans to use the capital to expand adoption of its Canton network a blockchain designed for financial institutions signaling deeper institutional integration into the crypto world.

Copyright Mettis Link News

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