Among the week's top news stories was that more bankers from around the world have called for bitcoin (BTC) regulation to be accelerated. This, during the World Economic Forum in Davos.
At the annual conference, which took place from May 25 to 26, a paper called "Crypto Crash" was presented in which the current situation of the cryptocurrency market was analyzed from the collapse of Terra.
But not only this is the main reason for the regularization, there is evidence of large movements of money within different blockchain as in DeFi protocols such as Yearn Finance, OlympusDao, exchanges such as PancakeSwap or even in pre-launch projects such as Minosis Token or LunaFi.
The bear market is still going on, although the price of bitcoin seems to have stabilized in a range between USD 29,000 to USD 30,000. The cryptocurrency's drop over the past seven days is estimated at 2.6%. At the time of this writing, bitcoin is trading at USD 29,234, as reflected in the market price in Latin America and Spain.
Well This week the European Central Bank (ECB) and the US Federal Reserve (Fed) released two surveys showing a substantial increase in bitcoin adoption in their respective territories. The ECB survey revealed that up to 10% of households own bitcoin; while the Fed report indicated that Americans increasingly view the cryptocurrency as a form of investment. For both regulators this increase is worrying, because it increases the risk of interconnectedness between cryptoassets and the traditional financial sector.
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source https://www.reddit.com/r/btc/comments/v17vxm/davos_forum_calls_for_regulation_hahsrate_falls/
