Bitcoin and Ethereum saw big falls this week after setting new all-time highs last week. This week’s drops follow President Joe Biden signing the $1.2 trillion infrastructure bill into law, which included provisions that impact crypto investments.
The latest price swings also follow a Biden administration report proposing new legislation to regulate stablecoins, and a Federal Deposit Insurance Corporation official said the agency is looking to give crypto guidance to banks. Last month, the first Bitcoin ETF officially hit the market as well, marking crypto’s debut on the New York Stock Exchange.
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