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Bitcoin tops $69,000 and ether jumps after Treasury and SEC proposals

Treasury plans to at least double longer-dated bond buyback operation sizes to $4 billion per operation starting Sept. 9, while the SEC proposed a framework for certain crypto asset offerings tied to investment contracts.

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Bitcoin climbed to $69,000 for the first time in two months, and ether reclaimed $2,000 as crypto markets rallied after the U.S. Treasury expanded longer-dated bond buybacks and the SEC proposed new rules for certain crypto asset offerings. According to The Block, the Treasury said it is increasing, by at least double, the size of liquidity support buyback operations for 10-year to 20-year and 20-year to 30-year nominal coupon securities. The current maximum size of $2 billion per operation will be at least $4 billion per operation, with the change effective Sept. 9 and running through Nov. 4 for the remainder of the refunding quarter. The SEC, meanwhile, proposed a rule that would create tailored exemptions for crypto assets tied to investment contracts, The Block reported. The proposal would allow issuers to raise up to $5 million over four years or $75 million annually, subject to disclosure requirements. The move was accompanied by nearly $2 billion in liquidations over 24 hours and also helped lift crypto-linked stocks, including Strategy and Bitmine, which were up around 10%, with Fold, BitGo and American Bitcoin rising more sharply, according to The Block.

Latest closeBitcoin $68,253.84 ▲5.5%

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