American bitcoin exchanges are likely to be required to register with the SEC as brokers, and all cryptocurrencies on the platforms will be classified as securities. JPMorgan's strategists came to this conclusion, he writes The block.
According to experts, such a situation will put serious pressure on the industry. However, the company believes that this approach has positive aspects — the same legislation will apply to digital assets as to traditional ones.
JPMorgan analysts emphasized that the Commission's actions reinforce the need for American lawmakers to develop a clear regulatory framework. Without clarity, they say, crypto activity in the U.S. is likely to move outside of the country and into decentralized organizations, and venture capital funding for the sector will decline.
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 active institutional participation," the organization's representatives explained.
To always be aware of the most important things, read us at Telegram
