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.
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.”