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The call of US regulators has confused the cryptocurrency market

In the USA, it was stated that the Fed, the Federal Deposit Insurance Agency and the Office of the Currency Supervision (OCC) are preparing a joint statement on cryptocurrencies. This news caused Bitcoin and other major cryptocurrencies to drop 10 percent.

The call of US regulators has confused the cryptocurrency market

In the US, cryptocurrencies are poised to face a new hurdle from banking supervisors, which are preparing to announce a more cautious approach to regulation of digital tokens.


Michael Hsu, Deputy Chairman of the Office of the Currency Supervision (OCC), said federal agencies are close to issuing a joint statement containing the results of the "crypto run," a review the government prepared this year to better handle virtual currencies.

Hsu pointed out that the joint statement of the OCC, the Fed and the Federal Deposit Insurance Corporation is not very friendly for the industry.

After this news, Bitcoin lost 10% of its value and fell below $ 60 thousand. Bitcoin's last 24-hour decline was 1.63%. Bitcoin is currently trading at $59,533.45. The second-highest-volume cryptocurrency, Ethereum, lost more than 12 percent to $4,160.67.

Dogecoin dropped 14.10 percent to 0.2341 cents.

The total cryptocurrency market cap was also $2.58 trillion.

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