Crypto to Face More Hostile Regulatory Environment Under Democrats
Dow Jones11-04 15:45
0745 GMT - Investors should expect a much more hostile regulatory environment for cryptocurrencies under a Democratic Congress, according to Kyle Rodda at trading platform Capital.com. "Certainly, we won't see as much pro-crypto legislation pass under this Congress," he says. The bitcoin market responded in muted fashion to the Democrats' sweeping midterms victory, Rodda notes. Crypto assets are struggling for direction after being caught between prospects for falling tech stocks--often negative for bitcoin--and a weaker dollar, which tends to lend a boost. Bitcoin is 0.3% higher at $78,103.
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