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Bitcoin fell in price after the speech of the US Congress
Yesterday Bitcoin lost about $ 1,500 in value in a few hours after the decision of the US Congress not to amend the controversial law
Aug 25, 2021
1 min read
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The first cryptocurrency has lost 6% since its recent high of $ 50,500 and fell below $ 48,000.

During the American session on Tuesday, insiders revealed details of the US Congress initiative that triggered the Bitcoin sale. It turned out that the Democrats had blocked the introduction of amendments to the "infrastructure plan of Biden".

This bill implies the introduction of new rules for the taxation of cryptocurrencies in the United States, which entails mandatory reporting on all crypto transactions and the disclosure of personal data.

This law applies to brokers, exchanges, node owners, wallet operators and developers of DEX exchanges and DeFi services. The new rules could virtually stop any cryptocurrency activity in the US. The law will start working next year.

Meanwhile, MicroStrategy acquired $ 177 million worth of Bitcoins and the total position of the company was 108 thousand BTC.

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Tether has completed a two-month hiatus in USDT issuance and resumed issuing stablecoin. Since the beginning of August, about 2.3 billion new tokens have been issued. Experts note that the demand for USDT continues to grow along with the sentiment of market participants.

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