Federal Reserve \"Money And Markets\" Report Fueled Significant Crypto Price Drops
The report revealed potential regulatory risk for the crypto marketplace Investors reacted with a big selloff.
A government-backed digital currency is portrayed as a safe alternative to current cryptocoins. However, a government- backed crypto coin would eliminate many of the perceived benefits of blockchain currency.
Critics point to the potential for regulatory pressure against non-government crypto projects reducing their appeal. ...leading to a non- competitive marketplace where only the government- backed digital coin is useable.
Potential government pressure has the potential to minimize usage on non- government backed altcoins... ...and the marketplace reacted with large price drops which have persisted since the report was published.
Almost all cryptocurrency was affected after the report was published. Read the review and commentary on the report online now.
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