Cryptocurrencies face a new challenge as US regulators set their sights on the market. The market experienced a 1.3% drop in its total capitalization compared to the previous day, due to the bill that seeks to regulate the token market, presented by US legislators.
The main objective of this initiative is to establish a regulatory framework for cryptocurrencies, offering protection to investors and combating fraudulent activities, which is why they would be under the supervision of the United States Securities and Exchange Commission (SEC).
Over the weekend, the price of Bitcoin (BTC) fell from $27,000 to around $26,700, reflecting an immediate reaction to regulatory news. This would also affect Ethereum, the second most relevant currency in the market, having a decrease of 1.8% in the last 24 hours.
However, several digital assets are on the rise: gaming tokens such as Axie Infinity (AXS) and The Sandbox (SAND) have seen an increase of 3.1% and 5.4%, respectively. The reason? The highly anticipated launch of Apple's mixed reality headset, in what some say will bring the Metaverse into the mainstream.
