Senators from both parties this week proposed a bill that would regulate cryptocurrencies. The AP reports it’s the latest Congressional attempt to come up with ideas on how to oversee a multibillion-dollar industry that been on a heart-pounding roller coaster-ride for investors. WRCR market analyst Ken Mahoney of Mahoney Asset Management says he’s not exactly keen on crypto…
Suggested regulations would have the Commodities Futures Trading Commission be the default regulator for cryptocurrencies. Other bills in Congress have suggested giving that authority to the SEC. Bitcoin, the largest digital asset, currently trades at about a third of its all-time high, down from more than $68,000 in November.