Bitcoin and XRP Drop After US Announces Stablecoin Bill

The U.S. Congress recently approved a new piece of legislation known as the Genius Act, which would introduce much-needed openness to the stablecoin industry, and is already impacting the copyright space. Bitcoin dropped 0.3% and XRP fell deeper at 4% after suffering their share of shocks from the bill.The drop is tiny but one more demonstration of the policy responsiveness of digital assets to changes in the global economy. Bitcoin’s small drop may appear insignificant at first glance. But when coupled with the larger drop in XRP, it reflects greater caution among investors and traders.Institutions don’t care, however. While short-term action will continue, all consider this bill an important step toward mainstreaming. With regulations now defined, institutional players are likely to raise their participation in the space of copyright.
https://crafmin.com/bitcoin-xrp-price-react-us-stablecoin-bill-genius-act/