Why the cryptocurrency brings records

The Bitcoin has reached a new record. (Symbol image)

Quelle: DPA/Fernando Gutierrez-Juarez

The US congress wants to decide on laws that could advance crypto by Friday. Cryptocurrencies are not regulated at the federal level in the United States, and the individual states sometimes grant the industry more and less freedom. That should change now: The so -called Clarity Act and the Genius Act are about to implement if the congress agreed.

The laws should define crypto values more clearly – either as securities or as digital goods. Under ex-President Joe Biden, the classification of crypto values as securities was a dispute between the government and crypto industry.

Because as securities, cryptocurrencies would lose tax advantages and the providers would have to submit more restrictive rules – for example, no disclosure obligations apply to them. According to experts, the pro crypto laws could have enormous effects under Trump.

Volker Brühl, Managing Director of the Center for Financial Studies at the Goethe University in Frankfurt am Main, says:

The hopes are high in the industry. Timo Emden, analyst at Emden Research, says:

But the new rules also drive, says Emden. The analyst specializes in crypto values. The crypto broses were taken to the scandals under bidges and critically eyed. Trump apparently wants the opposite. That could be problematic, says Emden.

There is a risk that the thumb screws will be loosened too strongly by the new laws and that the “wild west” will be recovered without clear set of rules, Emden warns.

Crypto is now also fueled from the classic financial world: Institutional investors such as banks, companies and asset managers are increasingly investing in Bitcoin or Ethereum – Ethereum is the second largest cryptocurrency after market capitalization.

Banks and asset managers also collect massively customer funds via so-called spot ETFs. Spot ETFs are stock exchange-traded funds. They depict the current market price of Bitcoin or Ethereum by actually holding the cryptocurrencies.

Crypto ETFs recently recorded a record-breaking influx in the United States. According to the asset manager Coinhares, the managed total assets rose to $ 211 billion.

On Thursday, Bitcoin ETFs reached one of the highest daily inflows of all time: Bitcoin ETF from Blackrock, the world's largest asset manager, collected $ 448 million. ETFs play a central role in old -age provision in the United States – now billions are flowing in Bitcoin.

Emden sees the increasing institutional interest and the prospect of further loosening the regulatory thumb screws in the USA as “Zünglein on the scale”.

“The decisive catalyst for the ongoing risk appetite is and remains the hope that the regulatory framework for the industry and thus the foundation for a crypto -friendly Washington will be laid in the coming days.”

While banks such as Standard Chartered or Analyst Houses such as Bernstein consider a Bitcoin course of $ 200,000 to be accessible, Bitcoin and Co. remain a high-risk matter for private investors. Emden warns:

Brühl does not see any actual value in Bitcoin: “Investors must continue to expect high losses.”

The trade dispute between the USA and their trading partners “should therefore continue to float as a classic Damocles sword over the heads of the investors,” says Emden.

Dennis Berger works in the economy and finance team.