🔴 Biden's new move caused a sharp decline in the market this morning 🔴

On June 18, major news broke that had a major impact on the cryptocurrency market when President Biden made key appointments to the US Commodity Futures Trading Commission (CFTC), sparking heated discussions in the cryptocurrency community. According to The Block,

This change could significantly impact the CFTC's regulatory approach to cryptocurrencies. The two people nominated by Biden are Christy Goldsmith Romero as head of the Federal Deposit Insurance Corporation (FDIC) and Christine Johnson as assistant secretary of the Treasury responsible for financial institutions. Both appointees have called on the CFTC to implement stricter cryptocurrency regulations to protect the interests of consumers and address conflicts of interest in the cryptocurrency space. If these appointments are confirmed, the CFTC's internal structure will undergo a major overhaul. Democratic Party Chair Rusten Behnam will partner with Republican Commissioners Carolyn Pham and Summer Mersinger, giving Republicans a majority on the commission. TD Coin investment bank expects the Biden administration to fill the two vacancies quickly, although the new appointees likely will not take their positions until the fall. This development brings new uncertainties