JPMorgan: US crypto exchanges will be forced to register with the SEC
Date: 2023-06-13 Categories: BUSINESS
According to experts, this situation will put serious pressure on the industry. However, the company believes that this approach also has positive aspects - the same legislation will be applied to digital assets as to traditional ones.
Earlier, the SEC filed lawsuits against Binance and Coinbase, accusing the platforms of selling unregistered securities.
JPMorgan analysts noted that the Commission's actions reinforce the need for US lawmakers to develop a clear regulatory framework. Without clarity, U.S. crypto activity is likely to move out of the country and into decentralized organizations, and venture capital funding for the sector will dwindle, they said.
The new rules “will free the industry from bad practices and unscrupulous players, which in turn is necessary for the industry to mature and see more institutional involvement,” the organization explained.
In court documents, the SEC has named more than a dozen tokens as securities. According to experts, a regulator’s victory could lead to the delisting of these coins and limiting the potential development of their blockchains.
“Given that most of the tokens targeted by the SEC are competitors to Ethereum, the regulator’s actions increase the likelihood that the network will further increase its dominance in the blockchain space,” JPMorgan said.
