Xinhua Commentary: "The Bitcoin Surge" Behind the U.S. Financial Ecology and Risks

ChainCatcher news, a commentary article from Xinhua News Agency points out that the Bitcoin surge reflects, to some extent, the policy direction of the next political cycle in the United States, concerning the long-term game between regulation and capital.

Institutions holding or engaging in Bitcoin and cryptocurrency trading are playing an important role in U.S. politics. In fact, a political action committee composed of major cryptocurrency industry institutions has prominently funded candidates who support cryptocurrency for congressional elections.

Many analysts indicate that as the world's largest economy and a major participant in global financial activities, if the U.S. government does not approach financial regulation responsibly, it will not only harm American investors but also have a significant negative impact on the global economy.