Cryptocurrencies like Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP) and more have taken a big hit in the market as of late, and for good reason. Regulatory bans coming for China and India are wiping a massive audience for cryptocurrencies out of the market. There are also concerns surrounding South Korea’s plans to regulate the industry, while fears of a ban in that particular region have been subdued. Nonetheless, the next big regulatory catalyst for the crypto space takes place tomorrow when the US Senate will look into the industry.
Senate Talks Crypto Tomorrow
As mentioned above, cryptocurrencies across the board have been feeling some serious pain over the past month as regulatory concerns hit the market. While these concerns have largely surrounded regulation in China, India and South Korea, many are forgetting about the largest market for cryptocurrencies to date, the United States. However, tomorrow, it’s going to be hard to ignore regulation in the region.
That’s because tomorrow, February 7th, 2018, the United States Senate Banking Committee will dive into crypto trading. In particular, CFTC Chairman J. Christopher Giancarlo and SEC Chairman Jay Clayton will be meeting with Congress. So, what’s the deal? What’s the meeting about? You guessed it! The answer is cryptocurrency.