cryptocurrency market become the backyard of the U.S. financial markets?

977Iti

Will the cryptocurrency market become the backyard of the U.S. financial markets?

The news of the approval of a spot Bitcoin ETF has caused a stir in the cryptocurrency industry. Some industry insiders believe that the approval is "a rare compromise."

However, there are also reservations about the idea of compromise. A institutional investor in the cryptocurrency industry told Observer, "The chairman of the SEC's affirmative vote is hard to say it's not under pressure from lawmakers and the courts." However, looking at the results, the SEC has rejected similar applications multiple times over the past decade. From the initial rejection to the current approval, the cryptocurrency industry has been "following the rules of others (SEC regulatory policies) step by step" in this process.

He also stated, "With the Binance penalty and the approval of the spot ETF, U.S. regulatory policies have shown an obvious trend of tightening while exerting control. Through the regulatory game, the initiative and discourse power of the cryptocurrency market have ultimately returned completely to the hands of the United States. With the world's largest Bitcoin mining machine market in the U.S. and the largest trading data controlled by the U.S., the connection between Bitcoin and the Wall Street market will become even closer with the approval of the spot ETF. In the not-too-distant future, the cryptocurrency market may become the backyard of the U.S. financial markets."

Iravan774

Cryptocurrencies are still quite appealing, aren't they?

Yamini003

Could the financial markets be disrupted?

Kamal531

It seems there's a promising market, right?

Shri

Once again, it relies on the U.S. dollar as a support, doesn't it?