Cryptocurrency markets are affected by the upcoming US elections, causing fluctuations in the charts. In this context, a Canadian investor believes that significant changes in US cryptocurrency regulation are inevitable, regardless of the election outcome.
US Crypto Regulations
Last year, we discussed how members of Congress were working on cryptocurrency regulations, the opinions of senators on certain bills, and White House sessions on cryptocurrencies. These issues have now taken a backseat due to the elections, and Congress has postponed them until the new administration.
Cryptocurrency Bills
Senate Majority Leader Chuck Schumer promised to take more steps on cryptocurrency regulations. He added that the issue shouldn't be ignored, despite the elections. The Financial Innovation and Technology Act for the 21st Century was passed by the House of Representatives earlier this year, receiving bipartisan support.
Development Prospects
Cryptocurrencies are starting to emerge from underground, being traded on exchanges and entering regulatory frameworks. Once the legal framework is fully established, cryptocurrency will become the center of global digital finance. Ten years ago, this seemed impossible, but today it is becoming a reality.
Cryptocurrency regulation is becoming an inevitable part of the US financial landscape. Regardless of the election outcome, the cryptocurrency sector will continue to grow and become more regulated.
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