Xinhua News Agency Comment: The US Financial Ecology and Risks Behind the "Bitcoin Rush"

The Xinhua News Agency commentary pointed out that the bitcoin surge reflects the policy direction of the next political cycle in the United States to a certain extent, and is related to the long-term game between regulation and capital. Institutions that hold or engage in bitcoin and cryptocurrency transactions are playing an important role in American politics. In fact, the political action committee composed of large cryptocurrency industry institutions has clearly funded the election of candidates who support cryptocurrencies to Congress. Many analysts said that as the world's largest economy and a major participant in global financial activities, if the US government fails to treat financial regulation in a responsible manner, it will not only hurt American investors, but also cause significant negative impact on the world economy.