Umair
tl;dr
A regulatory revolution is in full swing in the US. El Salvador cocks a snook at the IMF.
Market Snap
Market Wrap
BTC has regained the magical $100k and lost it again several times since the Trump Tariff wars exploded on Friday. Stocks are mostly unaffected. I cannot explain crypto’s relative underperformance, though I note that altcoins are faring stronger than BTC since yesterday.
Curious Cryptos’ Commentary — US regulation
The flurry of crypto-related activity in the US continues apace.
So far, we have had the establishment of a committee to investigate the feasibility or otherwise of a BTC strategic reserve fund (spoiler alert: it is going ahead) which will report by July 23rd. We also have a committee looking at the possibility of a US sovereign wealth fund (spoiler alert: it is going ahead) which will report by April 5th. The combination of the two appears to be the direction of travel.
Yesterday saw the formation of a working group “… tasked with drafting a comprehensive regulatory framework for digital assets and stablecoins.” The single biggest barrier to full-scale institutional adoption is the lack of…
