Crypto (unsplash photo)
After a period of instability that also included sharp declines, the senior cryptocurrency, Bitcoin, jumped in the last day and completes an increase of over 8% and traded in the last hour at a rate of $ 42,165.
The rise of Bitcoin has pushed the rest of the digital currency market with it, with the rising leader being the LUNA currency which has risen more than 20% in the last day. Atherium is also up 7% to $ 2,753, and the Dojkoin took advantage of a huge slump at the last minute and with a small rise traded around $ 0.12.
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What is the reason for the increase? Assaf Elmaleh, a senior crypto-financial analyst at the digital currency investment house Proxibit, says that the increases can be linked to a presidential report dealing with digital currencies and the regulation of regulation in the field, which President Biden is due to sign today.
Due to the conflict with Russia and the claim that the Russians will use digital currencies to circumvent the sanctions imposed on them, many investors saw the report as a cause for concern and feared that the US administration would handle the digital currencies harshly.
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The press release, which was scheduled to be published today, was leaked yesterday on the website of the Ministry of Finance and was deleted. In the announcement, US Treasury Secretary Janet Yellen commented: “A presidential decree on digital currencies will support responsible innovation in the field,” the statement said. Moreover, Janet sought to create collaborations between the Ministry of Finance and agencies and colleagues “that will produce a report on the future of money and payment systems.”
It should be noted that Janet has taken a balanced approach and said the order would address risks associated with illegal financing, protecting consumers and investors and preventing threats to the financial system and the wider economy.
Bitcoin Rising Graph. Screenshot of the Yahoo website
This reference by the US Treasury has received a positive interpretation in the markets and the digital currency market has jumped more than 6% in less than a day.
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