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Crypto market gained momentum from Trump's policies and crossed the $4 trillion mark for the first time
Crypto: According to data released by Coingecko, the crypto industry has reached a figure of nearly four trillion dollars. The US House of Representatives on Thursday passed a bill to create a regulatory framework for cryptocurrency tokens linked to the US dollar.
The crypto space's market value hit almost four trillion dollars on Friday. The information has been obtained from data issued by cryptocurrency data aggregator Coingecko. It is a record for the crypto space. Clarity in regulation in the major markets, higher investor faith, and high inflow of institutional investment have propelled this space to new heights.
US House of Representatives passed a bill on Thursday to establish a regulatory framework for tokens of cryptocurrency tied to the US dollar. The cryptocurrency is referred to as a Stablecoin. Currently, the bill has been forwarded to President Trump. It will turn into a law after it is signed by the President.
Darren Nathan, head of equity research at Hargreaves Lansdown, said that the outlook on the crypto industry has completely changed after Trump's policy came in, but despite this, lawmakers are still exercising some degree of caution.
