Hello team..

I bring this discussion to the table. What do you think it will be Bitcoin on 2021??
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It has been a great year for cryptocurrencies in general. Some of the bigger cryptocurrencies saw a lot of increase in value which made a lot of people earn profits. Because of how well crypto has been doing, there is a lot of attention surrounding it. Seeing that the results of the 2020 general elections in the US have been verified. The president-elect Joe Biden’s administration will have to take over the mantle of regulating this industry in the US.

Over the next couple of years, US federal agencies will be at the front line in creating policy and regulation in this arena. As with all the major appointments, heads of these agencies such as the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are expected to be announced in the coming months.

The Clarity in Securities Law
Last year, the SEC launched the Framework for Digital Assets which is supposed to be a sort of rule and guide book into the rules and regulations of dealing with digital assets such as cryptocurrency. Although a valiant effort, this framework has left many unanswered questions and raised new and valid ones. For instance, it’s not clear how the Howey Test will be applied in a decentralized network or who an “Active Participant” is.

The DeFi Market
DeFi has had one of the most incredible years so far. With a little under $3 billion in assets under management at the beginning of 2020, the industry now boasts close to $14 billion which is no small feat. This is according to recent data in the DeFi Pulse. However, there are several red flags in several agencies regarding how funds are being raised to support this DeFi boom. The method used was similar to the ICO bomb back in 2017.

If the United States is to be at the forefront of cryptocurrency innovation, it has to develop regulations that balance US values, foreign policy interests, and demand for adoption. This way, all the players in the industry feel protected and safe which will make the industry grow that much faster and attract more players.

You can read the complete post in here: https://crypto.co/technology/u-s-crypto-regulation-will-there-be-changes-in-2021/