JPMorgan gave a forecast about the future of the crypto industry in the US
JPMorgan analysts believe that US-based crypto exchanges will be required to obtain registration from the US Securities and Exchange Commission (SEC).
These crypto exchanges may include Coinbase and Binance.US, against which the SEC filed a lawsuit last week. JPMorgan analysts believe that crypto firms may face regulatory pressure.
“Coinbase, Binance.US and other US exchanges will have to register as brokers, and most cryptocurrencies will be treated as securities,” according to JPMorgan.
According to JPMorgan analysts, the tough approach of US regulators will be burdensome and costly for the crypto industry. However, it will also have positive consequences. If crypto markets are regulated according to the rules applied to traditional markets, the industry will become more transparent and investors will be protected.
id=”h-доминирование-ethereum-усилится”>Ethereum dominance will increase
In lawsuits against Binance and Coinbase, the SEC called some tokens securities. Among them are Solana (SOL) and Polygon (MATIC). If the regulator wins the case, many platforms will delist these coins, and the further development of alternative Ethereum blockchains will be in question.
“Given that most of the tokens targeted by the SEC are competitors to Ethereum, which are often called killers of Ethereum in the crypto world, the actions of the SEC [на прошлой] week increase the likelihood that Ethereum will further increase its dominance in the blockchain space,” JPMorgan strategists said.
What happens to altcoins after the SEC lawsuits
In lawsuits against crypto exchanges, the SEC listed 19 cryptocurrencies as securities, but Ethereum (ETH) was not included in this list. As a result, many platforms have announced the delisting of these tokens. Broker Robinhood will delist MATIC, ADA and SOL, while Binance announced the delisting of DASH, Tezos (XTZ), Zcash (ZEC), 0x (ZRX) and other assets paired with ETH.
However, Coinbase, on the contrary, is not going to delist tokens, which, according to the SEC, are considered securities. According to the head of the exchange, Brian Armstrong, the platform will continue to operate as usual until a court decision is made.
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