Regulatory Delays Crush Crypto Market, Bitcoin Below $63,000
Crypto prices took a hit on August 14 as investors grew nervous about regulatory delays and economic uncertainty. Bitcoin (BTC) fell to $62,874.95 after slipping below $63,000, while Ethereum (ETH) dropped to $1,877.90.
The total crypto market cap slid by 0.62% to reach $2.24 trillion due to various factors such as regulatory delays, fears of an economic slowdown, and pressure on crypto stocks. The Securities and Exchange Commission's cancellation of its meeting on crypto regulation and the delay in releasing plans for tokenized stock trading further weighed on prices.
The SEC's decision has impacted companies like Coinbase Global and Robinhood Markets, which are leading real-world asset tokenization activities. As a result, shares in these companies fell significantly.