Biden Will Begin To Implement The Cryptocurrency Regulation

US President Joe Biden will begin to implement the long-awaited cryptocurrency regulation.

The FED meeting and Russia's invasion of Ukraine almost destroyed the economic world. While commodities such as gold and silver were seen as safe havens, world stock markets and the world of cryptocurrencies went into a deep decline. Bitcoin, which has increased the hopes of investors by rising up to 44 thousand dollars, unfortunately entered a downward trend with the invasion of Ukraine. The fact that Russia's cryptocurrency traffic was examined on top of the world economy made things worse. The allegations that Russia turned to cryptocurrencies to avoid embargoes also accelerated the regulatory efforts of governments. After the European Commission announced that it will put the cryptocurrency regulation to a vote on March 14, the Biden government is also taking an important step. Incoming information is that the Biden government will implement a regulation to determine a strategy regarding cryptocurrencies this week. Especially preventing the traffic of embargoed people is an important part of the strategy plan. With this news, the decline in Bitcoin price deepened even more and it lost close to 7 thousand dollars in 5 days. The entire market continues to decline.