Bitcoin Holds $65,000 as Traders Monitor New SEC Proposal, White House Meeting

Bitcoin held steady on Wednesday as the cryptocurrency market turned its focus to significant regulatory developments in the United States. A new proposal from the Securities and Exchange Commission (SEC) and a high-level White House meeting are creating a cautious tone among investors, while broader market pressure from rising U.S. Treasury yields also weighs on sentiment.

As of 10:02 AM ET, Bitcoin was trading at $65,074.4, a modest increase of 0.5%, according to Investing.com data.

SEC Proposes New Rules for Crypto Fundraising

The U.S. Securities and Exchange Commission on Tuesday introduced a new proposal aimed at creating a specific regulatory framework for investment contracts involving crypto assets. The proposal, titled the "Crypto Asset Regulatory Rule," would establish two key exemptions for securities registration.

According to the SEC's announcement, the new framework would include:

• An exemption allowing qualified issuers to raise up to $5 million over a four-year period.
• A second exemption permitting the issuance of up to $75 million in crypto assets within any 12-month period.

SEC Chairman Paul Atkins stated that the proposal is designed to offer a clear pathway for crypto entrepreneurs to raise capital within the bounds of federal securities laws. He added that it would also provide a "safe harbor" for issuers who have completed or permanently ceased the core managerial duties promised in their investment contracts.

Ad

White House and CFTC Meetings in Focus

Adding to the regulatory uncertainty, President Donald Trump is expected to attend a meeting of the newly formed Crypto Innovation Council at the White House on Wednesday, as reported by Coindesk. The meeting will bring together CEOs from cryptocurrency firms, prediction markets, traditional finance, and the artificial intelligence sector.

A follow-up session is scheduled for Thursday at the Commodity Futures Trading Commission (CFTC), which oversees the council. These discussions come as a major piece of crypto legislation, the Clarity Act, has stalled in Congress, leaving market participants looking to federal agencies for direction.

Broader Market Remains Subdued

The wider cryptocurrency market saw limited movement. Ether (ETH), the second-largest cryptocurrency by market capitalization, rose 1.2% to $1,933.06, while XRP gained 1.4% to trade at $1.0155. Other major altcoins posted mixed results, with Solana (SOL) up 2.1% and BNB climbing 0.3%, while Cardano (ADA) dipped 1%.