Bitcoin rose sharply for a second consecutive day on Aug. 21, bringing its two-day gain to 16.66% and restoring its market capitalization to $1.5 trillion, according to HTX market data cited by BlockBeats. The broader crypto market also recovered after U.S. President Trump issued a series of favorable crypto-related statements on Wednesday. Momentum continued Thursday as the CFTC (U.S. derivatives regulator) held the first meeting of its Innovation Advisory Committee, attended by numerous crypto industry executives and major companies. CFTC Chair Michael Selig said the industry would still receive market-structure rules even if the U.S. Congress fails to pass the Clarity Act. The CFTC is assessing several crypto regulatory rules and will continue monitoring the bill’s progress. The legislation has stalled in the U.S. Senate, with a procedural vote expected in mid-September, although its prospects of securing enough support before the U.S. midterm elections remain uncertain. Selig said legislation is the most reliable way to establish a framework, but the CFTC already has broad authority under existing law and could use that authority to write rules if Congress does not pass the bill.