The news that the U.S. Senate is pushing for a regulatory framework related to virtual assets is contributing to a continued rise in the virtual asset market.
As of 7:50 a.m. on the 25th, according to CoinMarketCap, a global virtual asset market tracking site, Bitcoin is trading at $106,072, up 0.33% from the previous day. Ethereum is trading at $2,442, up 1.42% from the previous day, and Ripple is trading at $2.18, up 1.58%.
On that day, U.S. CNBC reported that two Republican senators plan to unveil the framework of a key bill defining cryptocurrency regulation. According to the framework proposed by Senate Banking Committee Chairman Tim Scott (South Carolina) and Senator Shin Si A (Wyoming), the bill defines when cryptocurrency is considered a commodity or securities, allows cryptocurrency exchanges to register with the Commodity Futures Trading Commission, and aims to ease regulations on digital currency imposed by the Securities and Exchange Commission (SEC).