Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
JPMorgan Chase: Cryptocurrency regulation may make positive progress under the Trump administration

JPMorgan Chase: Cryptocurrency regulation may make positive progress under the Trump administration

Bitget2024/11/15 13:47

On November 15, following the U.S. election, the cryptocurrency market surged with Bitcoin reaching a historic high of approximately $93,500 this week. Analysts at JPMorgan outlined six key regulatory and market changes that could reshape the U.S. cryptocurrency landscape under Donald Trump's administration and its Republican-led Congress. The analysts suggested that several pending crypto bills might be quickly approved, including the Financial Innovation and Technology Act (FIT21), which can provide much-needed regulatory clarity by defining oversight responsibilities of the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). Moreover, as regulatory frameworks become clearer, SEC's enforcement strategy may evolve into a more collaborative approach. They indicated that high-profile lawsuits against companies like Coinbase could potentially be mitigated or even dismissed. Staff Accounting Bulletin No. 121 (SAB 121), an SEC rule limiting banks from holding digital assets might be abolished. The SEC may require resolution of lawsuits concerning unregistered securities before approving spot ETFs and demand these assets to launch futures-based ETFs first; this could delay new ETF approvals or necessitate re-filing applications for them. Clearer regulations may increase venture capital investments in cryptocurrencies along with mergers & acquisitions and initial public offerings in this field too . Although strategic Bitcoin reserves would greatly enhance Bitcoin's legitimacy possibly pushing up its price further , their likelihood of being passed is relatively low.(The Block)

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!