Mark Grabowski addressed how new regulations by the Biden Administration might impact Bitcoin's price, which has skyrocketed to all-time highs in recent weeks.
“Government regulations may actually help cryptocurrency in the long run, but they invariably hurt the market in the short term,” Grabowski explained, adding that “perhaps the one thing that most Republicans and Democrats in Congress seem to agree on is that more cryptocurrency regulations are needed.”
Grabowski's remarks appear in a news story by financial news site Finance Magnates.
On Jan. 20, Yellen suggested that lawmakers should ‘curtail’ the use of cryptocurrencies because of the belief that they are ‘mainly’ used for illegal activity. Soon after, Bitcoin's price and the cryptocurrency market began dropping.
“Treasury Secretary-to-be Janet Yellen’s negative comments on cryptocurrency” may have spooked Bitcoin markets, said Grabowski, who teaches a course and wrote a book on cryptocurrencies.
“Government regulations may actually help cryptocurrency in the long run, but they invariably hurt the market in the short term,” Grabowski explained, adding that “perhaps the one thing that most Republicans and Democrats in Congress seem to agree on is that more cryptocurrency regulations are needed.”
Grabowski's remarks appear in a news story by financial news site Finance Magnates.
On Jan. 20, Yellen suggested that lawmakers should ‘curtail’ the use of cryptocurrencies because of the belief that they are ‘mainly’ used for illegal activity. Soon after, Bitcoin's price and the cryptocurrency market began dropping.
“Treasury Secretary-to-be Janet Yellen’s negative comments on cryptocurrency” may have spooked Bitcoin markets, said Grabowski, who teaches a course and wrote a book on cryptocurrencies.
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