The cryptocurrency fell by 11% a week ago and has been trading between $43,000 to $47,500 ever since. Prices fell by more than 2% on Monday as U.S. stocks dropped on fear of potential corporate tax hikes. In prepared testimony to the Senate published Monday in advance of his Senate appearance today, the U.S. Securities and Exchange Commission Chair Gary Gensler said the agency doesn’t “have enough investor protection in crypto finance, issuance, trading or lending,” and that it is comparable to the Wild West.
