Over the last week we saw the Crypto market take a fast rising with BITCOIN going as far up as $44k breaking almost all previous resistance levels from a low price of

And right now, over the past two days we saw Bitcoin taking a deep dive down below $42k and it seems to be going lower…..

What could be the cause of this downtrend, well stay with me to find out…

Image credit: Coinmarketcap.com

CRYPTO POLICY TAKES CENTRE STAGE AT THE US PRESIDENTIAL CANDIDATE FORUM | CRYPTO AND POLITICS

Tonight, the stage is set and crypto is on the United States of America (U.S) Presidential forum stage and the discussion is ongoing about the interests of the public and the government on Cryptocurrency..

We see this featuring Institutions like Coinbase, Coindesk, cointelegraph and many more with their representatives talking about how and why the crypto industry is a gamechanger..

Right now the Debate is going on Crypto regulation following the Bill passed by U.S Senator Elizabeth Warren calling for extreme state led regulatory policies on Crypto currency citing the misuse of crypto currency for money laundering and anonymous transactions.

Image credit : bitcoinmagazine.com

This Bill passed is supported by several other senators who are calling on the government to take strict measures on regulating the use of Crypto currency for transactions, stating that introduction of KYC (Know Your Customer ) measures would go a long way to fixing the issues at hand.

According to Warren, “The Treasury Department is making clear that we need new laws to crack down on crypto’s use in enabling terrorist groups, rogue nations, drug lords, ransomware gangs, and fraudsters to launder billions in stolen funds, evade sanctions, fund illegal weapons programs, and profit from devastating cyberattacks,”.

This comes after she has labelled Cryptocurrency as a criminal tool following stating on Live TV that North Korea funds almost 50% of its Nuclear weapons program using cryptocurrency.

Though Cryptocurrency and Blockchain institutions are trying to exonerate and show the importance of crypto currency at the meeting, this news has thus far induced a massive negative sentiment as to Crypto currency with Elizabeth Warren’s Crypto bill being supported by Bank Policy Institute, Massachusetts Bankers Association, and a couple other financial and legislative institutions.

This Bill is coming at a time when the crypto industry has begun to see massive worldwide acceptance and could thus lead to a consideration by the Securities and Exchange commision on whether to approve or decline U.S first spot Bitcoin exchange Traded fund(ETF).

The significance of Cryptocurrency being featured in the U.S Presidential Candidate forum could lead to a two way public opinion on the crypto industry which could be the break we all are waiting for with the BITCOIN halving less than 150 days away.

Let's all stay tuned and see if there could be a turnaround for the market following the Forum.