Crypto prices remain depressed due to macroeconomic and geopolitical uncertainty, despite interest rate cuts and positive trade news.
US Treasury Secretary Scott Bessent said on Thursday that the US would suspend restrictions designed to limit access to Chinese companies buying technology that the US government considers sensitive.
The eased restrictions were given in exchange for China agreeing to suspend its export controls on rare earth minerals used in electronics and military defense applications, according to Reuters.
Bessent’s announcement follows several weeks of softening trade tensions between the two countries, which is normally a positive catalyst for crypto prices.
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