Neo (NEO) is having an incredibly strong day in the market, following up on gains that we saw late yesterday. Ultimately, there are a couple of reasons for this. First and foremost, the cryptocurrency sector as a whole is bouncing back after news from a Congressional hearing in the United States reached the wire. However, there’s more to it for NEO. There’s also news of advice to the People’s Bank of China to embrace cryptocurrency from a key advisor. This is important as China, before the ban, was a key region for NEO. Today, we’ll talk about the news and what you should be watching for surrounding the cryptocurrency ahead.
NEO Is Flying
As mentioned above, NEO is having an overwhelmingly strong day in the market today after a couple of bits of news hit the wire surrounding regulatory and central bank movements. Here’s what happened:
- Congressional Hearing – First and foremost, there as a US Congressional hearing yesterday in which the chairmen of the SEC and CFTC addressed the Senate Banking Committee. While many feared that the United States would push to ban or harshly regulate the cryptocurrency sector, the exact opposite was true. The reality is that the authorities commonly called market cops seem to be welcoming this new technology with open arms. In fact, the CFTC chairman made points surrounding how the blockchain could help regulatory authorities do their jobs. With this news, there is little fear surrounding harsh regulation of the crypto space in the United States, leading to gains across the board, with NEO benefiting greatly.
Read the full article at CrypoTwits!
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