To be sure, markets still anticipate the Fed’s Federal Open Market Committee will raise rates by 25 basis points (bps) during its March 22 meeting, although the probability of a 50 bps increase has ticked up slightly. Still, inflationary fears are arguably more concerning than regulatory ones. India, which is currently president of the G-20 group of nations, appears to be pushing for a coordinated global effort to regulate cryptocurrencies. The United States supports the initiative.
