Xinhua News Agency Commentary: The US Financial Ecosystem and Risks Behind the "Bitcoin Rush"

a commentary article by Xinhua News Agency pointed out that the soaring of Bitcoin to a certain extent reflects the policy direction of the next political cycle in the United States, which 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 US politics. In fact, a political action committee composed of large cryptocurrency industry institutions has clearly funded and helped support candidates who advocate for cryptocurrency to run for Congress. Many analysts believe that as the world's largest economy and a major participant in global financial activities, if the US government cannot treat financial regulation responsibly, it will not only harm American investors, but also cause significant negative impacts on the world economy.