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Home / Business / After the SEC confirmed the hearing, the price of Bitcoin (BTC USD) cryptocurrency rebounded

After the SEC confirmed the hearing, the price of Bitcoin (BTC USD) cryptocurrency rebounded



With the recovery of market risk appetite and investors considering the regulatory issues facing cryptocurrencies, Bitcoin climbed to a one-week high.

In the early trading in London, the digital token rose by 7% and the transaction price exceeded $50,000. On Tuesday, prices fell 2.9% after Gary Gensler, chairman of the Securities and Exchange Commission, said that ensuring that the crypto market is free from fraud and manipulation is a challenge for the agency.

Bitcoin still falls short of the record set last month

Gensler served as chairman of the Commodity Futures Trading Commission during the Obama administration and has always been considered a staunch supporter of digital assets.He served as a senior consultant MIT Media Lab Digital Currency Initiative organizes and teaches knowledge about blockchain technology and digital currency.

John Wu, president of the blockchain technology company Ava Labs, said: “Although the Bitcoin market reacted quickly to his comments, Gensler has a positive attitude towards Bitcoin and cryptocurrencies.” Innovation in currency and digital assets, not stifling innovation.”


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