Bitcoin rises past $80k on US regulatory progress; China, Iran uncertainty weighs

Chloe Harper May 15, 2026

Investing.com– Bitcoin rose on Friday after U.S. lawmakers moved ahead with key legislation for cryptocurrency regulation, although caution over U.S.-China talks and the Iran war kept gains limited.

Bitcoin rose 0.6% to $80,351.5 by 01:38 ET (05:29 GMT).

The world’s largest crypto saw some overnight strength, rebounding back above the $80,000 support level as U.S. lawmakers pushed forward the Clarity act.

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But gains in the currency stalled amid growing caution over U.S.-China trade talks, while U.S. President Donald Trump also struck a hawkish tone on Iran.

Senate Banking Committee clears Clarity Act

The Senate Banking Committee on Thursday voted in a 15-9 decision to advance the Clarity Act, setting up the legislation for a potential vote before the full Senate.

The bill seeks to establish a sweeping regulatory framework for the U.S. crypto industry– a move long sought by proponents of the industry.

But the bill is still expected to face stiff opposition, especially from the banking lobby, which has repeatedly called for more curbs on yield payments on stablecoins.

Some unions and law enforcement agencies have also argued that the bill could hurt consumers and financial institutions.

The Clarity act now requires it to be first considered by the Senate Agriculture Committee before a full Senate vote can take place. The bill will also need the support of at least 60 members.

China, Iran caution limit crypto gains

Crypto came under pressure as broader markets turned risk-averse on Friday, amid uncertainty over the results of an ongoing U.S.-China summit. Hawkish comments from U.S. President Donald Trump, on the Iran war, also spooked markets.

Optimism over the U.S.-China summit was dulled by a U.S. trade official stating that semiconductor export controls were not discussed during recent talks between Trump and Chinese President Xi Jinping.

Trump and Xi concluded talks on Friday and flagged some progress in bilateral ties, but did not elaborate on just what agreements were reached during Trump’s state visit to China.

Trump, in an interview with Fox News, said he was losing patience on Iran and urged the country to accept a peace deal or face even more military action. His comments drove a sharp gain in oil prices.

Concerns over the inflationary impact of the Iran war remained front and center after a series of hotter-than-expected U.S. inflation readings this week.