Senate Majority Leader Chuck Schumer (D-NY) is optimistic that a bipartisan cryptocurrency regulation could pass this year in an attempt to reassure crypto supporters who are backing Kamala Harris. Speaking at a virtual Crypto4Harris town hall, Schumer emphasized Congress’ duty to create sound regulations and stressed that they can’t ignore crypto’s growing presence.
Schumer is pushing to get a bill through the Senate and into law by the year’s end. Indeed, he believes that crypto is here to stay, so it’s crucial to get the regulations right. Meanwhile, Sen. Kirsten Gillibrand (D-NY) suggested that a future Harris administration would take a balanced approach to crypto regulation to make sure that the industry will be able to continue innovating while protecting consumers.
Although Harris hasn’t publicly stated her stance on crypto, senior Democrats are rallying industry support and hinting that she might move away from the Biden administration’s tougher stance. Crypto is shaping up to be a key issue in the upcoming election, with Republican nominee Donald Trump advocating for the U.S. to become the “Bitcoin superpower of the world.”
Is Bitcoin a Good Investment?
Using TipRanks’ technical analysis tool, the indicators seem to point to a negative outlook for Bitcoin (BTC-USD). Indeed, the summary section pictured below shows that two indicators are Bullish, compared to six Neutral and 14 Bearish indicators.
