SHIBA Inu and Bitcoin are both down today as a result of President Biden’s remarks on the currency’s potential dangers, such as ransomware and other cyber risks.
“Cyber attacks may touch every American, every organisation, regardless of size, and every community,” Joe Biden said in a statement.
“That is why, in order to combat cyber dangers, my government is mobilising a national effort.”
The White House also hinted that the US may convene a meeting of 30 countries, including NATO and G7 partners, to discuss cybercrime measures.
“This month, the United States will bring together 30 nations to expedite our cooperation in combating cybercrime, increasing law enforcement coordination, stopping the criminal use of cryptocurrencies, and engaging diplomatically on these problems,” it stated.
In addition, Federal Reserve Chair Jerome Powell stated on Thursday that there are no intentions to prohibit cryptocurrencies in the United States, causing prices to skyrocket by 10%.