Cryptocurrency investors are experiencing a dream week as things suddenly start to improve. BTC was already in an upward trend. However, investors are extremely happy due to the recent inflation data and the Biden administration’s sharp change in attitude towards crypto. So, what is happening?
Latest News on Cryptocurrencies
Today or by tomorrow at the latest, US officials will vote on a new cryptocurrency law in Congress. Last week, a law that received bipartisan support and made it difficult for the SEC regarding crypto had raised hopes. Now, with another law, the legal pressure on cryptocurrency investors in the US will weaken.
Moreover, according to recent news, the crypto market structure revision bill, FIT21, will not be vetoed. Although there are criticisms of the law, Biden’s decision to not veto, contrary to his previous statements, is clearly a price catalyst.
BTC price has increased by approximately $400 for this reason, and it would not be surprising to see further rises with more news in the coming hours.
