We have mentioned that Joe Biden’s nomination of Jerome Powell for the chairmanship of the Fed increased the sales in Gold and Bitcoin prices.
Biden, who was in front of the cameras with the names he nominated for the Fed presidency and vice president, also touched on the regulations regarding cryptocurrencies in his speech a short time ago.
Underlining the need for the Central Bank to be independent, Biden said:
“We have moved from a collapsed economy to a world-leading economy.
The pandemic is increasing the costs for American families.
Disruptions in the supply chain cause prices to rise.
Powell is one of the best names to fight for our goals.
Powell will also take an active role in non-bank regulation and cryptocurrency regulation.
Powell must ensure that we are never exposed to financial risks due to Regulatory shortfalls.”
Although Biden’s mention of crypto money regulations during his speech caused Bitcoin to fall below $ 57,000 again, we observe that the reaction is limited for now.
*Not Investment Advice.