Citi says BTC rebound persists despite U.S. crypto bill setback, focus shifts to SEC

Bitcoin’s rebound has continued despite the failure of a procedural vote on the CLARITY bill in the U.S. Senate, with market attention shifting from the passage of any single bill to actual regulatory progress, Citi said. Citi said the legislative setback could limit an expansion of the Commodity Futures Trading Commission’s authority over crypto oversight, while the U.S. SEC could still use its existing powers to pursue rulemaking on trading, tokenized assets and market access. Citi said the SEC’s next steps will be a key area to watch.