Just last Saturday, December 16, Bitcoin had us all nodding in approval with a small uptick, only to take a nosedive and wrap up the week down by about 6%, hovering around the $41,000 mark. What’s really turned heads is Bitcoin breaking its eight-week winning streak, a bit of a shocker for traders and enthusiasts alike, but what’s the culprit? A growing cloud of regulatory worries, mainly stirred up by Senator Warren’s Digital Asset Anti-Money Laundering Act. With a solid fifth of the US Senate already nodding along to the bill and the 2024 Presidential Election set to play kingmaker, the market’s got this edgy, ‘hold-your-breath’ vibe going on.
Now, Ripple (XRP) is right in the thick of it, feeling the heat from the SEC’s watchful eyes, especially as Senator Warren’s bill, if passed, would bring banking-style regulations to crypto firms and solidify the SEC’s regulatory authority over the digital asset space in the US. While XRP is treading water in these choppy regulatory seas, the
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