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As Bitcoin Soars, Attention Turns to Regulation and Compliance
It has been an eventful year for Bitcoin and the cryptocurrency space in general. After being caught up in the March stock market sell-off, Bitcoin is again trading near its all-time high. Several factors have contributed to this impressive price rally.
Governments around the world responded to COVID-19 with significant monetary and fiscal stimulus measures. The Federal Reserve, for instance, printed 20 per cent of all the U.S. dollars currently in circulation during this year alone. This expansion of the monetary base has left many investors looking to hedge their portfolios from inflation and fiat currency debasement. Bitcoin, due to its inherent scarcity, presents such a hedge. Over the last several months, Wall Street heavyweights Paul Tudor Jones, Bill Miller and Stan Druckenmiller have all disclosed positions in Bitcoin. At the same time, corporate treasuries are moving a share of their assets into Bitcoin, with M
Even with its Director, Kenneth Blanco, departing this week, the Financial Crimes Enforcement Network (FinCEN) has been active in taking steps to implement the Anti-Money Laundering Act of 2020.
Click HERE to find out ⭐ Expert Slams FinCEN Proposed Rules on Virtual Currency and Other Digital Assets as a Mistake and Lose-Lose. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
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