The cryptocurrency community in the USA had a terrible week. This for an easy reason. The massive new regulation is on its way if we are supposed to believe the Treasury department.
But it is not that bad. Bitcoin is still up 50% this year. That is a strange thing. After all, does Bitcoin not represent any real value and was regulation coming sooner or later.
So now the US Treasury Department is going to come with regulation. Regualtion will bring many small firms out of business.
The costs of regulations and compliance are simply too high for small firms. That is exactly the reason why big businesses are always pushing for regulation. They can afford it. An easy method to get competition out of business.