CRYPTO RULES IN U.S. TO BE EFFECTIVE FROM 2022

CRYPTO REGULATIONS TO BE EFFECTIVE FROM 2022, Says U.S. Senators

Including Six U.S Senators have joined together to form an alliance to regulate cryptocurrency in the United States. U.S senators have called upon the federal reserve to regulate cryptocurrency bills as soon as possible before the effective year of the Infrastructure bills.

Source: CNBC
  • Bitcoin Price is up over $46,700 with a gain of +2.47%, ETH price is up about $3,837 (+$300) with +1.62% gain. Even after anti-inflation rule of the Federal Reserve crypto market soared today.
Source: Google

The Biden Administration approved the Infrastructure Investment and Jobs Act(IIIA) of $1.2 Trillion, in the month of November into law. This Act imposes certain transaction reporting requirements on crypto firms, mining companies, wallet companies, exchanges, and individuals who do not control Bitcoin transactions directly. Due to the word “Brokers”, the law drew some controversies at that time and those rules which were going to be imposed on them. This created controversies among some senators who expressed their concerns over a letter that was later published. The letter says in one section that :

“Some market participants have expressed concern that an overly-broad interpretation of … ‘broker’ could capture certain individuals who are solely involved with [validating transactions] and entities solely providing software or hardware solutions enabling users to maintain custody of their digital asset wallets.”

Senators from both parties like Rob Portman, Mark R. Warne, Mike Crapo, Kyrsten Sinema, Pat Toomey, and Cynthia Lummis signed the letter. Some experts like  Jerry Brito, Executive Director of Coin center expressed their concerns over the short time frame that is approved by the lawmakers, which may backfire according to them.

What is NEO ? Is NEO a good Investment on 2021?

A detailed analysis is presented below for NEO smart contracts. NEO is basically a cryptocurrency Token that performed very well during the year 2017. It had a good return of 21,000% return on investment (ROI) for its investors. NEO blockchain is the only blockchain that can be compared to Ethereum blockchain due to its features. So it’s also called a Chinese Ethereum or Ethereum killer. Although NEO is a promising smart contract-based blockchain technology that aims to digitalize real-world assets and operate using smart contract technologies, it has various flaws and issues like other cryptocurrencies.

NEO token was founded by  Da Hongfei and Erik Zhan in China in 2014. NEO was also again rebranded in 2017. NEO also resembles the US-originated Ethereum network. So definitely NEO is a good investment in 2021 since it is expected to reach up to 101$ in 2022 with a 220% gain. During the 2021 Bitcoin bull run, NEO already crossed 140$ and as of now, it is currently trading at 28$ with a 24 Hour volume of 15.23M.

What will NEO be worth in 2025?

NEO is most likely to cross 400$ within the year 2025 since it already crossed 141$ during the bull market of bitcoin in 2021. This token is a good investment for the short-term future.  NEO is having a live market cap of $2,023,151,476 USD. It has a circulating supply of 70,538,831 NEO coins and a max. supply of 100,000,000 NEO coins

Which type of Blockchain technology NEO token is based on?

Basically, NEO is a token that resembles the same smart contract as Ethereum but it has some flaws and issues which make ETH a more user and system-friendly network. NEO is built on its own NEO ecosystem and a Decentralized Autonomous Organization blockchain technology.

For more information go through this video which will be more helpful.

How much do you own of this crypto? and most importantly what do you think of this crypto? Let us know in the comment section.

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