Xinhua News Agency Commentary: The U.S. financial ecosystem and risks behind the "Bitcoin surge"

On December 6, a commentary article by Xinhua News Agency pointed out that the surge in Bitcoin reflects to some extent the direction of US policy in the next political cycle, concerning the long-term game between regulation and capital. Institutions holding or engaged in Bitcoin and cryptocurrency transactions are playing an important role in US politics. In fact, political action committees composed of members from large cryptocurrency industry institutions have clearly funded and helped support candidates for Congress who favor cryptocurrencies. Many analysts say that if the U.S. government, as the world's largest economy and a major participant in global financial activities, cannot treat financial regulation responsibly, it will not only harm U.S. investors but also cause significant negative impact on the world economy.