We all know cryptocurrencies are not well looked upon the United States of America. In fact, every day results more notable how cryptos are labeled as not-safe assets, and in the same line, how institutions such as the Securities and Exchange Commission (SEC) ban cryptos or refuse to support strategies such as the bitcoin ETF request. However, this is actually a contrasting idea, considering the fact that despite all of the restrictions the United States of America continues its path towards becoming a country that fully embraces cryptocurrencies. So why is this actually happening?
Well, it is more than evident that it is the government, and institutions like the SEC the ones that are actually against virtual coins, but once we take a look at the community in the country, the approach is the opposite. But what if a part of the government is willing to support cryptocurrencies as well?
Could we be speaking of an opportunity to approach the sector? It all seems to point that these are only assumptions. However, nothing says more “good news” than the endorsement of the government in this matter, even if it comes mixed with ‘margination ideas’ related to the cryptosphere. Let’s find out how it goes.
ETH and LTC amongst crypto investments made by Congress members
The most recent move of the government of the USA was to compel the members of the Congress to disclose any of the holdings they may have in crypto.
In this sense, the measure has revealed some of the tokens that a few of the members of the Congress had previously decided to invest in. For instance, Tulsi Gabbard, which is in a representation of the second district of Hawaii, has revealed that she invested nothing but 15,000 US dollars in 2 of the top cryptos in the market, Ethereum (ETH), and Litecoin (LTC) at the end of last year.
The same way, Bob Goodlatte, another member of the Congress who happens to be the Chair of the House Judiciary Committee, admitted as well to have invested money in cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), although by his part the amount spent was not mentioned in the statement.
The three above-mentioned cryptos are all in the hall of fame of the cryptosphere, especially Bitcoin, which ever since the market started to grow had made it appear as the leader of all of the lists.
Nonetheless, in the case of Ethereum and Litecoin, despite not being the predilect token, both are particularly wanted because of two different reasons. In the case of Ethereum, technology, and in the matter of Litecoin, practicality, and adoption.
The CEO and founder of Litecoin (LTC), Charlie Lee, has actually declared in several occasions that the primary goal for the company is to achieve a massive adoption, and proof of that are the thousands of partnerships and strategies that the businessman has managed to deploy. For its part, one could say that Ethereum is the most adopted technology in the cryptosphere, being the preferred platform when launching an ICO, or simply whenever a company wants to have an approach to the crypto world.
The United States of America still need to come clean with a decision regarding crypto. For the one part, we have those who publicly endorse the sector, such as the case of the candidate from South Carolina who was recently trying to use crypto in his campaign, but he was actually asked to stop from doing so.
On the other hand, we have the categorical rejection from members of the Congress such as Bill Huizenga, who recently gave a message that reads:
“Everyone’s trying to figure out whether it’s fish or fowl. It turns out it might be a platypus. It’s kind of an unknown, or something sort of in between. How do we deal with that?”
Whether or not cryptos such as Litecoin, Ethereum and Bitcoin will be fully accepted in the country remains a question, but the bottom line is the USA continues to grow its crypto community, and this is a one-way ticket situation. So stay tuned.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Christopher Burns on Unsplash
Launch of First Ever XDB/ZUSD Pairing Announced to Support Global Gaming Industry
The XDB Foundation has recently announced the first pairing of XDB with the new Zytara Dollar (ZUSD) on global cryptocurrency markets. The Biki cryptocurrency exchange will be one of the first platforms to provide access to the XDB/ZUSD trading pair.
“We are really excited to see the debut listing of the XDB/ZUSD trading pair,” says Michael Gord, the XDB Foundation’s Managing Director, “Asia-Pacific accounts for a significant portion of the global gaming community, almost 50%, and BiKi is perfectly situated to support this geography. We’re really happy to welcome them into our partnership ecosystem.”
The protocol layer blockchain DigitalBits is designed to support branded stablecoins and other branded currencies across a variety of use cases, offering crucial support to the global esports industry. The platform solves many of the issues involved in global tournament prize payouts, as well as enabling around the clock real-time payment transfers and global monetization of in-game currencies. Developers will also be able to create programmable incentives for gamers, therefore increasing fan engagement.
Issued by a regulated financial institution, the ZUSD is designed as currency for the future of the gaming and esports industry and beyond. The programmable dollar moves anywhere in the world at the speed of the Internet, and is redeemable…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…