U.S. Congress Uncertainty Threatens Altcoin Stability

Uncertainty surrounding pending stablecoin regulations from the U.S. Congress has triggered apprehension within the cryptocurrency market. Matt Hougan, CIO of Bitwise, warns that prolonged regulatory uncertainty could negatively impact altcoin markets this summer. This lack of clarity poses a challenge for smaller-scale cryptocurrencies as stablecoins play a vital role in liquidity and trading pairs. If regulations remain unclear, gaining support from financial institutions might become difficult.