SEC Chairman: No plans to 'cut' Bitcoin

Gensler's final response was based on remarks made by Fed Chairman Powell last week.

SEC Chairman Gary Gensler told the House of Representatives on Tuesday that the SEC has no plans to "cut" Bitcoin.

Earlier today, Ken Griffin, founder of hedge fund Citadel and founder of market maker Citadel Securities, said giving too much time and energy to cryptocurrencies was an attack by some dollar skeptics. American. He also expects Bitcoin to be "decided". However, he said his company would trade cryptocurrencies if cryptocurrencies were properly regulated, praising Gensler's stricter scrutiny of cryptocurrencies.

Gensler's final response was based on remarks made by Fed Chairman Powell last week. President Powell testified before the House Assistance Group at a time when the Fed had no plans to ban cryptocurrencies.

Gensler has vowed to establish a new strict regulatory framework for crypto assets and has spoken out against the crypto industry, but still, "the government's goal is to ensure that trade in agreement with traders and traders. consumers to protect the rights and protection of transactions ... and tax law ”.

Gensler said the SEC "was only trying to include cryptoassets in the SEC's capital protections." He declined to say whether the SEC would review the Fed (CEO) deal, but said insider trading was illegal, even for executives.

While Gensler's announcement was particularly disappointing, Bitcoin's optimism remained bullish. In the early morning hours of Beijing's 6th session, Bitcoin was up more than 5% on the day, reaching $ 51,914.73 a coin. Ethereum's daily revenue has also increased by over 4%.

In the past, Bank of America's strategies supported the idea that cryptocurrencies were a new asset.

Bank of America experts like Alkesh Shah and Jessica Reif Ehrlich wrote:

“The space for digital assets is too big to ignore. We believe there may be more time than the skeptics expect. "

According to a Bank of America report, Wall Street's interest in cryptocurrencies has increased despite much controversy. Bank of America believes that there are many policies that will help cryptocurrencies in the long run. Experts noted that once the rules are in place, the uncertainties in cryptocurrency investments will be removed.

According to a report from Arcane Research, the recent surge caused Bitcoin to split into two key phases and is now at the peak of its two-month rally. Bitcoin hovered around the US $ 45,000 level for some time, according to the report, before finally climbing. This means that the US $ 46,000-48,000 lot is a strong support level meaning that Bitcoin may stay in this area for some time. Time.

Michael Sonnenshein, CEO of Grayscale Investments, said:

“The price of bitcoin has fluctuated a bit recently, so seeing prices fall is usually a matter of time and investors expect to buy in the bear market. Although no exchange rate remains. some sort of idea or belief, but it's You can buy it for 15%, sometimes less than 20%.

“The price of bitcoin has fluctuated a bit recently, so seeing prices fall is usually a matter of time and investors expect to buy in the bear market. Although no exchange rate remains. some sort of idea or belief, but it's You can buy it for 15%, sometimes less than 20%.