US Democratic lawmakers: Trump may trigger another "catastrophic crash" in the cryptocurrency market
October 22nd news, according to DLNews, Maxine Waters, the chief Democratic member of the House Financial Services Committee, warned that the ongoing government shutdown is setting the stage for another market disaster. Trump and the Republicans are trying to integrate cryptocurrencies into the traditional financial system without establishing proper regulatory framework, increasing the possibility of future collapse. Waters pointed out that the government shutdown has entered its 21st day, with 90% of the staff of the U.S. Securities and Exchange Commission forced to take leave, and most enforcement activities suspended, the Commodity Futures Trading Commission also effectively shut down. In the market crash on October 10th, Bitcoin plummeted 14.6%, Ethereum fell 21%, Dogecoin dropped over 50%, and the $TRUMP token hit a low of 63%, causing investors to lose billions of dollars. Waters stated that the regulatory vacuum of regulatory agencies exposes investors to the risk of "another catastrophic collapse."
