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Crypto’s Wild Ride Leaves Washington Grasping at What to Do

  • Regulators, lawmakers say they’re still studying hot market
  • ‘I’m in learning mode, as we are all,’ one senator says
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WATCH: Bitcoin touched its lowest level since January before bouncing back later in the day, impacting cryptocurrency-exposed shares.(Source: Bloomberg)
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On a day when cryptocurrencies were the talk of Wall Street, Washington showed it has a lot of catching up to do.

As bank regulators testified for hours on Capitol Hill, Bitcoin and other tokens whipsawed between huge losses and then gains. Unsurprisingly, lawmakers asked lots of questions about the asset class of the moment and how the U.S. should police it. Watchdogs mostly said it’s too early to say.