Biden May Crackdown on Bitcoin

White House

The statement read that cyber threats can harm every American, every business, despite the size, and every community.

That’s why the president’s administration is leading a whole-of-nation attempt to face cyber threats.

The statement also indicated that the US would collect 30 other countries. These will include NATO and G7 allies, to review responses to cybercrime.

It read that this month, the United States will bring together 30 countries to stimulate their cooperation in fighting cybercrime. They will promote law enforcement collaboration, arising the illicit use of cryptocurrency, and fighting on these matters diplomatically.

Federal Reserve chair Jerome Powell also stated Thursday that there are no proposals to ban cryptocurrency in the US, and prices rose 10 percent.

 

Mexico

 

Meantime, Mexico has earlier held talks regarding the selection of some form of digital currency.

El Salvador’s determination could ultimately shift support towards Bitcoin rather than alternative crypto or a Central Bank Digital Currency (CBDC).

Earlier this week, Grupo Elektra, a leading banking and retail company in Mexico, threw its backing behind Bitcoin by entering the Bitcoin Lightning Network as a payment method.

But Mexico’s central bank quickly hunted down the plans. It advised that the country’s financial institutions should not carry out and offer general operations with virtual assets, like Bitcoin, Ether, XRP.

Despite grappling with high inflation rates due to the continued devaluation, many of the country’s lawmakers continue opposed to Bitcoin.

 

What Do the Experts Say?

 

Shaun Heng, vice president of growth and operations at CoinMarketCap, informed The Sun that it’s testing to assess the risk of many crypto projects such as Alchemy Pay.

He isn’t a supporter of Alchemy Pay’s crypto-linked cards. However, he promotes one of its partners, Binance, the biggest crypto exchange by trading volume worldwide.

According to Heng, the partnership with Binance is most surely a good indication of validation for the project.

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