Daily Bitcoin News Update
$6.0 billion was wiped out of the cryptocurrency market in the past 24 hours as we watched the U.S. Senate subcommittee thrash cryptocurrencies on one hand and let up on the banking sharks on the other.
Scathing testimonies were delivered against Bitcoin and its progeny of over 1,500 cryptocurrencies, and calls were made for strict regulations. Meanwhile, on the other side of the fence, the Senate passed a bill to ease regulations on the banking industry. The Dodd-Frank Wall Street Reform and Consumer Protection Act adopted following the infamous financial crisis of 2008 was voted to be rolled back.
Yes, both events took place.
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