Aug 20 — Bitcoin hits $70K, SEC crypto rules, big-bank…

• Bitcoin briefly topped $70,000 for the first time since June, liquidating over $1 billion in short positions — a decisive positioning shift that could pull in further momentum-driven inflows. • The SEC proposed a new "Regulation Crypto Assets" rulebook under Chair Paul Atkins, creating a tailored exemption regime for certain token offerings — potentially unlocking issuance activity frozen for years by legal uncertainty. • J.P. Morgan, Bank of America, Citigroup and Wells Fargo are jointly building a shared tokenized deposit network targeting H1 2027 — the four largest US banks moving on-chain legitimizes settlement infrastructure and directly…