Lower crude prices helped reduce inflation concerns during Asian trading, while legislation that could establish a permanent U.S. government bitcoin reserve moved another step forward in Congress.

Zcash (ZEC) rose 10% to above $1,616 on Wednesday morning in Asia, making it the biggest gainer among major crypto assets, according to CoinDesk data.

Bitcoin was little changed near $86,900, up 1% over 24 hours. XRP climbed 6% to above $1.62, HYPE added 4% to nearly $97 and DOGE gained 4%. Ether, BNB and SOL each advanced by less than 1%. TRX was the only major cryptocurrency to trade lower, declining 1%.

Analysts attributed the broader positive tone partly to developments in Washington. On Sept. 17, the House Financial Services Committee voted 28-21 to approve the American Reserve Modernization Act, sending the proposal closer to a vote by the full House.

The Securities and Exchange Commission has meanwhile taken steps on tokenized U.S. equities as lawmakers remain deadlocked over the CLARITY Act. The regulator invoked an innovation exemption to allow a route toward onchain trading of tokenized U.S. stocks within a day. Tony Dicarlo, director of institutional propositions at RootstockLabs, said the move had supported tokenization-focused tokens and improved sentiment across digital assets.

“Technically, Bitcoin’s back above its 50 & 200 week moving averages, up ~29% in 35 days,” Dicarlo said in an email to CoinDesk.

He also highlighted the committee passage of the American Reserve Modernization Act, saying it had renewed attention on the Strategic Bitcoin Reserve. The bill has advanced further through Congress than previous proposals, although approval by both the full House and Senate is still required.

The legislation would transfer about 325,000 bitcoin currently held by the U.S. government into a Treasury-managed Strategic Bitcoin Reserve. Most of those holdings came from criminal and civil forfeitures. Under the proposal, the coins would have to remain in the reserve for at least 20 years, with quarterly audits required to confirm that the holdings remain intact.

The bill would additionally call for a study into ways to acquire more bitcoin without increasing the federal deficit.

In wider markets, falling oil prices supported Asian government bonds. Australian and New Zealand 10-year yields each dropped at least three basis points, while 10-year Treasury futures moved higher. U.S. cash Treasury trading was closed for a Japanese holiday.

Brent crude slipped below $99 a barrel, extending its losing streak to six sessions, the longest such run in a year. The decline followed President Donald Trump’s comments that U.S. officials had a “very good” meeting with Iranian representatives in New York as Washington renewed efforts to resolve the conflict.

The Bank of Japan raised rates last week by a 7-2 vote. Traders viewed the split as signaling a potentially gradual approach to further tightening. The yen has weakened since the decision, keeping funding costs in Japan relatively low and allowing capital to continue flowing toward risk-oriented investments.