The Biden administration is debating cryptocurrency safeguards that allow investors to ‘Dogecoin to their hearts’ content’
According to The Washington Post, the White House, senators, and US central bankers are investigating what can be done about crypto.
Federal authorities, however, “do not consider the huge fluctuations in the crypto markets as likely to jeopardize the larger stability of financial markets,” according to sources who spoke to The Washington Post.
Will the United States government investigate Dogecoin?
The idea, according to a source familiar with the conversations, is to let investors to “Dogecoin to their hearts’ content.”
“They are aware that there are a variety of hazards and things to be mindful of in the abstract, but they are still essentially in a wait-and-see posture,” a source told The Washington Post.
The market for cryptocurrencies
According to MarketWatch, the cryptocurrency market has been extremely turbulent in recent weeks as several cryptocurrencies have attracted increased interest from businesses, investors, and social media. At the same time, it has resulted in massive price increases and enormous price drops.
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According to Forbes, the major cryptocurrencies — Bitcoin, Ethereum, and even Dogecoin — have all dropped in value in recent days due to Bitcoin. Bitcoin investors are considering dumping their holdings, causing the price of other cryptocurrencies to plummet.