The cryptocurrency markets are particularly positive about the data on the forthcoming US regulatory intervention, which was revealed yesterday, unintentionally, by the Minister of Finance Janet Yellen, with bitcoin exceeding 42,000 dollars.
In particular, in a statement posted briefly on the US Treasury Department website and subsequently removed, Ms Glenn said Joe Biden’s upcoming presidential decree on cryptocurrencies would be a “constructive approach to regulating the digital currency industry”. to support responsible innovation “.
According to the statement, YPOIK will work “with colleagues from other services in order to prepare a report on the future of money and payment systems”.
The wording of the statement, as well as the generally mild approach, seemed to immediately allay concerns about an aggressive intervention by the US government, signaling a rise in the digital currency market overnight.
In this climate, the flagship of crypto, bitcoin is trading 8.7% and is moving at 42,339 dollars, according to coindesk, while other important exchange rates are following.
In particular, ethereum is up 6.5% to $ 2,755, solana is up 6% to $ 88.4, and luna is jumping more than 20% to $ 98.55.
It is characteristic that, according to coindesk, the total value of short positions in cryptocurrencies that were liquidated in the last 12 hours, exceeds 95 million dollars.
As Yuya Hasegawa, an analyst at Japan’s Bitbank exchange, points out, “Yellen’s statement was welcomed by the market as it seems to focus on the development of the industry, rather than imposing unrealistic regulations.”
In the same vein, Gemini co-founder Cameron Winklevoss called for a “constructive approach” in a post, saying he was “looking forward to working with stakeholders to ensure that the United States remains a leader in cryptocurrencies.”
I applaud this constructive approach to thoughtful crypto regulation and look forward to working together with the various stakeholders to ensure that the US remains a leader in crypto.
– Cameron Winklevoss (@cameron) March 9, 2022
Source: Capital
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