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Bitcoin was slightly lower on Monday morning, trading slightly above the $ 43,000 level.
The price hovered around $ 43,715 per coin on Monday morning, while rivals Ethereum and Dogecoin were trading at around $ 2,940 and 24 cents per coin, respectively, according to Coindesk.
Bitcoin hit its highest level in nearly three months on Saturday before slashing some of the weekend’s gains.
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Prices have since cooled and are down about 3% on a 24-hour basis after hitting a high of $ 45,200 late Saturday night and Sunday morning. At the time of publication, bitcoin (BTC, -2.70%) is changing hands for around $ 43,695.
In other crypto news on Thursday, President Biden distanced himself from a proposal by Finance Committee Chairman Sen. Ron Wyden and other senators to relax proposed regulations on certain requirements of cryptocurrency declaration under the bipartisan infrastructure bill.
Bitcoin was slightly lower on Monday morning, trading slightly above the $ 43,000 level. (istock / iStock)
Wyden, D-Ore, has joined Sens. Pat Toomey, R-Pa., And Cynthia Lummis, R-Wyo., Opposing the proposed language which they believe would stifle innovation and impose burdens on people like Bitcoin miners that would be hard to abide by. The trio of senators proposed an amendment on the issue
But the authors of the bill – Sens. Kyrsten Sinema, D-Ariz., Rob Portman, R-Ohio, and Mark Warner, D-Va. – wrote a counteramendment that was more in line with Biden’s plan – and he approved it.
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White House Deputy Press Secretary Andrew Bates said the administration supported the Portman-Warner-Sinema Amendment aimed at “clarifying the measure to reduce tax evasion in the cryptocurrency market.”
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