Cryptocurrencies
Bitcoin Dips After Gensler Says SEC Must Root Out Crypto Fraud
- Crypto advocate makes case for regulation during hearing
- Digital assets have surged this year amid Bitcoin revival
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Cryptocurrency enthusiasts exhibited a bit of nerves during Tuesday’s Senate confirmation hearing for Gary Gensler, the nominee for chairman of the U.S. Securities and Exchange Commission.
Bitcoin dipped to the lowest levels of the day after Gensler said that insuring that cryptocurrency markets are free of fraud and manipulation is a challenge for the agency. The largest cryptocurrency declined as much as 3% to $47,341 in New York trading. It has jumped about 65% since December.