Bitcoin Is Braced For A Bombshell From Fed Chairman Jerome Powell
You may have heard of the recent news about how the government is now trying to regulate the use of Digital Currency in the United States of America. The Federal Reserve is trying to protect their monopoly over the money in circulation by creating a standard set of guidelines that the banks will need to follow in order to exchange these types of currency. If you have not been paying attention, you may be shocked to learn that they are actually trying to put these guidelines in place to prevent individuals from getting involved in the “Digital Currency Market”. Let’s take a closer look at this story and why it is important to you to know what is being discussed.
The problem with the government regulating the currency exchanges in the United States is because they are attempting to monopolize the entire market. The Federal Reserve has issued a statement which states that they will be working with the government to establish guidelines which they feel are necessary for the currency to grow. These guidelines will prevent individuals from participating in the market without regulation. This is a drastic attempt to control the growth of this particular market and we want to tell you why this is important to you.
Since the currency is being regulated by the government, this means that there will be a complete ban on anyone who wishes to participate in this market. You have probably already noticed a trend in which there is a sudden increase in the number of individuals who have chosen to take advantage of the free market for the opportunity to earn some extra money while they are waiting to get out of a recession. What this means is that people are now taking advantage of this market and they are making some pretty good money doing it.
The reason why the market is booming at the moment is because there are so many individuals participating in it. When a large amount of people get involved with the market, this leads to a drop in prices, which makes it more lucrative. We have already stated that this is a major problem which the government is attempting to solve. Unfortunately, they are attempting to do this by imposing a strict set of guidelines that only the biggest banks and corporations will be able to follow in order to gain access to the market.
You may be surprised to hear that the digital currency market is going to be able to thrive once the government does regulate it. This means that there will be a greater amount of people who can partake in this type of market without having to worry about some government official coming down on them with some heavy fines or anything else. Since there will be more people involved in the marketplace, the price will rise since there will be more competition.
Since we have stated that the United States government will be regulating the use of the Digital Currency Market, you may be wondering what you can do to help make sure that this is going to work in your favor. This can be done through proper research and knowledge.