How Legislation Could Have Reshaped the Bitcoin Crash

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The price of bitcoin, along with other cryptocurrencies, has crashed. New legislation seeks to better inform consumers about the risks in digital assets and minimize the potential for losses by establishing a clearer regulatory framework.

The effects of the COVID-19 pandemic are still felt on the digital assets markets two years later, with cryptocurrencies being the worst hit asset class. Wall Street fell into a bear market following fears about the fragile economy, and rising rates sent the S&P 500 down. Bitcoin fell below $19,000, its lowest mark since December of 2020 and down from late last year's peak of $68,990.