"Investors are definitely not happy to sit back, they hope for a slight increase in the crypto market."
United States (US) Senator Bill Hagerty said that discussions about cryptocurrencies and the Federal Reserve's (Fed) interest rate plans will take place during the presentation of the monetary policy report on Tuesday and Wednesday.
While crypto markets will wait for the Fed's view on interest rate hike plans for the rest of the year, Fed Chairman Jerome Powell's comments on digital assets could also have a big impact.
Among Powell's previous comments were related to the need for better crypto regulation so that investors are protected from any fraud.
The presentation is also important for the US Securities and Exchange Commission (SEC) to take further regulatory enforcement actions against the crypto market.
According to Hagerty, the crypto market is likely to see some price recovery if Powell elaborates on the regulation of digital assets and related risks.
But the opposite happens if it fails, where Hagerty in his statement during the panel discussion in September 2022 once warned that the crypto market will experience significant bleeding.
It is already known that Hagerty is known as a person who gives full support to the crypto ecosystem when he recently spoke about the difficulty of digital asset exchangers in finding banking partners following political pressure.
Thus, the report of Powell's presentation is able to cause the crypto market to see an increase as the Senator constantly puts pressure on the head of the central bank regarding digital assets.
