Senate Majority Leader Chuck Schumer (D-NY) is optimistic about passing bipartisan cryptocurrency regulations this year, in an effort to reassure crypto advocates who support Kamala Harris. Speaking at a virtual Crypto4Harris meeting, Schumer stressed Congress’s duty to create robust regulations and stressed that it cannot ignore the growing presence of cryptocurrencies.
Schumer is pushing for a bill to pass the Senate and be passed by the end of the year. Indeed, he believes that cryptocurrencies are here to stay, so proper regulation is crucial. Meanwhile, Sen. Kirsten Gillibrand (D-NY) has suggested that a future Harris administration would take a balanced approach to cryptocurrency regulation to ensure the industry is able to continue to innovate while protecting consumers.
While Harris has not publicly stated her position on cryptocurrencies, senior Democrats are rallying behind industry support and suggesting she may be moving away from the Biden administration’s tougher stance. Cryptocurrencies are poised to become a key issue in the upcoming election, with Republican candidate Donald Trump advocating for the United States to become the “global Bitcoin superpower.”
Is Bitcoin a good investment?
Using TipRanks’ technical analysis tool, indicators seem to point to a negative outlook for Bitcoin (BTC-USD). Indeed, the summary section illustrated below shows that two indicators are bullish, against six neutral indicators and 14 bearish indicators.
