Pack Your Bags, the Crypto Party is Officially Over

According to sources familiar with the matter, the Biden administration is gearing up to regulate digital assets (cryptos, NFT’s, etc.) as a matter of national security…lol.

The writing was on the wall here, tbh. And how it’s gotten this far is kind of beyond me. The Biden administration has been particularly aggressive in terms of “regulating” cryptocurrencies. In an era with insane price action and all eyes on the crypto world and “Web3” (can someone please explain that one to me?) it’s no surprise that the government is now deciding enough is enough and are frantically trying to figure out that the hell they can possibly do to get their piece of the pie.

The White House released a report on stablecoins (BOOOOOORING) in November in an effort to have Congress regulate and rule the crypto world. To what degree, we don’t really know. If this movement gains enough momentum we’ll have to closely watch price action of crypto as a result. The jury is still out on what any type of governmental regulation will mean for the overall price action of crypto. It could go up, down, sideways, or in f***ing circles (shoutout Wolf of Wall Street). All that we do no is that any government intervention means that the party is over.