If you’re a fan of cryptocurrency, you’ve no doubt been paying attention to the recent news in the space. For instance, American venture capitalist Tim Draper recently spoke about the potential of Bitcoin at a conference in Lisbon. According to Draper, the slightly higher unemployment rate in the United States is likely to be bullish for bitcoin, but bearish for the U.S. dollar index.
While Bitcoin has been holding above $20K for the past few weeks, the crypto industry is increasingly worried about government regulations. Cryptocurrency exchange Kraken has reportedly said the costs of handling government subpoenas could be a barrier to entry. Meanwhile, Japan’s Financial Services Agency has expressed openness to approving crypto ETFs. In addition, two lawmakers have introduced legislation that would exempt the digital currency from securities laws.