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November 27, 2022
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US Treasury Department Ends Cryptocurrency Bubble? –

The cryptocurrency market has seen a significant correction. This is because of reports that the US Treasury Department may soon accuse a number of financial institutions of using digital assets for money laundering.

US Treasury Department Will Hit Cryptocurrency Market?

The popular Twitter account FXHedge was the first to publish rumors that the US Treasury Department would hit the cryptocurrency market soon.

A few minutes after the tweet was posted, the cryptocurrency market began to correct quite deeply. Bitcoin alone fell from around $ 59,000 to $ 52,800. Ether, on the other hand, fell from around $ 2,260 to $ 1,970, and Binance Coin from around $ 501 to $ 440.

However, are FXHedge’s reports true? Or maybe someone just wanted to panic in the market to correct the rates on the chart?

Recall that the US Treasury Department has in the past accused individuals of using cryptocurrency assets for money laundering. In March 2020, the agency punished two Chinese citizens and accused them of laundering stolen cryptocurrency on behalf of Lazarus, a group that the FBI described as a state-sponsored North Korean hacking organization.

Previously, the US Treasury Secretary Janet Yellen did not speak very favorably about BTC and other cryptocurrencies.

It is a highly speculative asset. And you know, I think people should be careful that it can be very unstable. I am concerned about potential losses for investors – she said.

Already revised?

At the time of writing these words, you have to pay about USD 57,000 for 1 BTC, which translates into a decrease of 5%. on a 7-day scale and 8.41 percent. on a 24-hour scale.

The worst could also be Ethereum behind it. 1 ETH costs $ 2,232, or 10 percent. less than yesterday, but still 4.5 percent. more than a week ago.

Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will find out how you can efficiently create one: LINK.

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