Bitcoin notches a strong week despite increased crypto scrutiny from regulators

Bitcoin (BTC-USD +1.4%), the largest digital token by market cap, ends the week on a strong note as digital asset adoption and usage continues to expand globally even as governments seek to impose regulations on the sector. As of Oct. 8, bitcoin (BTC-USD) climbs 11.8% in the past week while the second largest token, ethereum , rises 4.5%; on a M/M basis, BTC +17% still outpaces ether's +2.1%. Some main drivers behind the recent crypto rally includes the resurgence of inflation fears in the U.S. and Securities and Exchange Commission Chairman Gary Gensler's recent assertion that the U.S. won't ban crypto; this past week, BTC's market capitalization crossed back over $1T. However, regulators around the globe weigh in on the rising usage/adoption of digital assets — whether it's in the form of cryptocurrencies, stablecoins or central bank digital currencies. The Bank of England, for one, considers the crypto markets' rapid