Crypto prices were up big time on Tuesday after Iran and Israel announced a ceasefire in their long-standing rivalry. Geopolitical tensions are further receding, but that too has a buoying effect. At the same time, positive regulatory developments in the US underpin risk-on sentiment across markets. Bitcoin, Ethereum, XRP Bitcoin, Ether, and XRP all took on double-digit percentage gains, a sign of renewed investor confidence in the digital asset space.
The entire crypto market jumped on news that President Trump had brokered a permanent ceasefire between Iran and Israel. This increased geopolitical clarity encouraged investors to get back into commodity markets, pushing up prices even further. By noon, Bitcoin had already crossed the $105,000 threshold, a testament to the size of the market’s reaction.
Ether made a big move too, soaring back above the $2,400 mark. XRP saw a similar increase short time later, rising to $2.19. The deeper market rally was not limited to crypto markets alone. Stocks got a boost as tensions in the Middle East appeared to cool.
Senate GOP leaders have introduced their own full-blown bill. This legislation would go a long way in creating clear regulatory guardrails for the emerging crypto industry, extending the momentum even further. A central piece of the newly proposed framework requires crypto companies to register with the Commodity Futures Trading Commission (CFTC). This action will ensure that these companies are subject to regulatory supervision. As it stands, the bipartisan stablecoin bill will now head to the House for passage consideration.
At the panel, Robinhood CEO Vlad Tenev emphasized that regulatory clarity is key. This clarity will go a long way towards letting the U.S. reclaim its competitive edge in the crypto industry. He noted that the U.S. has fallen behind other regions, such as Europe, in providing a clear regulatory environment for digital assets.
In related news, a firm touting itself as a regulated crypto player announced that it had received a significant round of funding. Initially, the company plans to use the new capital to improve its Canton network. This truly unique wholesale blockchain solution is tailor made to the sweetness that is financial institutions.
