Bitcoin Has Earned Nearly $ 17,000 In The Last 30 Days

A month ago, July 17, the price of bitcoin hovered around $ 3,000. Today, the leading cryptocurrency trades at about $ 47,000. that means the flagship cryptocurrency has grown by 48% in the past 30 days. 

What’s more, that 56% growth came amid several controversies in recent weeks. 

President Biden Infrastructure Act
. perhaps the biggest story in recent weeks is a $ 1.2 trillion infrastructure bill that has been voted down in the U.S. Senate. 

The wording of this bill has transformed tax reporting obligations to the point where some actors in the digital asset industry are described as “brokers.””Those intercepted by the language in question included crypto companies not related to storage, such as mining companies, who claimed they had not collected the information needed to remain compliant. 

The bill will now be reviewed by the American house in the fall. 

Several U.S. senators, including Sen. TED Cruz (Texas), have said the bill would hurt the crypto industry. However, despite the immediate impact of the bill, the price of bitcoin remained on an upward trajectory. 

Sec vs. cryptography
In October, Bitcoin faced some harsh criticism from Securities and Exchange Commission Chairman Gary Gensler, in addition to the dispute over the infrastructure bill. 

In an exclusive interview with CNBC, Gensler echoed earlier calls from Sen. Elizabeth Warren (D-MA) for strong consumer protection in the crypto industry. 

What we learned about Sec Chairman Gary Gensler’s position on cryptography
: “We are an investment protection agency and right now this asset class, bitcoin and the hundreds of currencies that investors trade, is a speculative asset class. What we want to do is some basic protections against fraud and manipulation,” GENSLER told CNBC. 

He also suggested that bitcoin ETFs in the United States could emerge in the long term, while cryptocurrencies are not money and contribute to crime.

Despite criticism FR

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