Bitcoin hovers around $39,000 after winning streak snapped
Bitcoin was off more than 5% month-to-date and down more than 15% year-to-date.
Brett Harrison, the president of FTX US, a U.S.-regulated cryptocurrency exchange, argues that 'some amount' of crypto regulation is 'important' so that institutions 'feel confident' in putting their money into the 'emerging space.'
Bitcoin was trading around $39,000 on Friday morning after snapping a two-day winning streak.
The cryptocurrency traded in tandem with the equity markets, which also fell after the Consumer Price Index jumped 7.9%, cementing inflation concerns.
Bitcoin was off more than 5% month-to-date and down more than 15% year-to-date.
The U.S. Treasury Department is taking steps to raise awareness about the risks of investing on cryptocurrencies, according to Reuters.
The Treasury’s Financial Literacy Education Commission will work to inform the public about how crypto assets work and how they are different from other forms of payment.
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The Treasury's education unit will be made up of 20 different agencies, including the Securities and Exchange Commission.
Last year, SEC chair Gary Gensler called the crypto industry the "Wild West" of finance, "rife with fraud, scams and abuse."