In another regulatory move, a May 20 report concerning tax proposals for Joe Biden’s American Families Plan features a call from US treasury officials to exchanges and custodians to report crypto transactions greater than $10,000 to the IRS. Amid all these, a lesser-known crypto, Sentinel (UPP) seems to be riding on the ”regulatory headwinds”, rallying nearly 500% on May 21.
Sentinel (UPP) is the native token of Uppsala security which offers Decentralized Solutions and Risk Management Tools for Cryptocurrency AML, Regulation Compliance, and Cybersecurity.
Sentinel (UPP) had a strong breakout from the downside move it began after reaching all-time highs of $0.37 on Apr. 2nd. UPP subsequently rallied nearly 500% (as seen on Bittrex) from lows of $0.06 to highs of $0.36 on May 21.
UPP’s breakout also coincided with the news of an imminent partnership with a next-generation financial firm, stating in a May 21 tweet ”We are about to sign a contract with the Next Generation Financial Firm!”
Sentinel Protocol (UPP) was trading at $0.377 as of press time.