While the crypto market is in the midst of a significant rally, one likely fueled by the banking fiasco, the Biden administration recently released its annual Economic Report of the President, and it could prove to be a challenging obstacle for the nascent asset class. 

The report covers a multitude of topics ranging from unemployment, supply chain challenges, climate change, and of course, cryptocurrency. To say the report is less than friendly to crypto might be an understatement, but let's take a look at some of the key points. 

The underlying tone of the Biden administration's viewpoint on crypto could be described as scathingly sarcastic. Look not further than the title of the chapter "Digital Assets: Relearning Basic Economic Principles."

Continue reading

Source Fool.com