The Chairman of the Federal Reserve of the US has affirmed that the powerful country has no intentions to ban cryptocurrency and related practices in the provinces of the States. During the assembly, the chairman answered various questions related to the economic health of the country, wherein one of those was about the prospects of cryptocurrency in the nation. This is a bit of the news for investors and traders since the government of the states has given an indirect route to digital assets like cryptocurrency into its economy.
After such optimistic affirmations of not banning cryptocurrency in one of the most wealthy potential markets for the digital world, the prices of the king of cryptocurrency Bitcoin boosted considerably with a soaring speed striking an all-time daily high point since July 2021 within minutes after the statement of Chairman Powell was released. Smart Investors are already delighted by the news and are ready to invest more into many other variants of cryptocurrency coins.
The mere idea of no plan of banning cryptocurrency in the United States might be derived from China’s practice to completely ban cryptocurrency in its provinces. For decades, the formula of China’s expense is the US’s income has been in business, and yet again, the rehearsal mode if the US in opposition to China’s behavior has substantiated the world economic situation. Anyway, the market is flourishing as each day and every second passes by conquering the world’s largest markets like the USA and India, minute by minute.
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