As you might know, the US government is considering new rules for cryptocurrencies, and they seem to be getting tougher. Recently, the SEC (Securities and Exchange Commission) took action against Kraken and Paxos, two companies involved in cryptocurrencies. They also sued Terraform Labs, the company that made two digital coins that failed last spring. The SEC also fined Paul Pierce, a former basketball player, for not disclosing his involvement in a cryptocurrency.

Last month, three top regulators wrote to banks warning them about dealing with cryptocurrencies. They want banks to be more careful. The Federal Reserve also denied an application from Custodia Bank, a crypto company, to join its payment system.

Despite all this, the price of Bitcoin went up last week to a new six-month high. It briefly passed $25,000 for the first time since August. Other cryptocurrencies also gained value. This may be because investors are still interested in cryptocurrencies, even though the government is getting stricter.

Overall, it looks like more rules and legal actions are on the way for cryptocurrencies.

Who knows? Dealers may join the wave of other industries that accept Bitcoin and other cryptocurrencies as valid forms of payment.