JP Morgan Expects More Pressure From SEC! Is Bitcoin a Safe Haven in Crypto?

US Securities and Exchange Commission (SEC)in recent weeks cryptocurrencyincreased the pressure on them.

While this approach of the SEC caused the reaction of the crypto industry, the US banking giant JP Morgan He evaluated these moves of the SEC.

In this context, JP Morgan analysts led by Nikolaos Panigirtzoglou stablecoin The issuers indicated that they expect more regulatory sanctions on crypto services as well as investor oversight and protection.

Stating that these regulatory initiatives of the SEC have made the SEC the dominant position in the US in regulating the cryptocurrency space, JP Morgan said that this stance of the SEC once again reveals that it views cryptocurrencies other than BTC as securities.

“The SEC’s recent actions also demonstrated the SEC’s bias in viewing most cryptocurrencies other than Bitcoin (BTC) as securities.

Given recent events, it should come as no surprise that the SEC is looking at offering a staking service in a similar way to offering any other type of security as it does in cryptocurrencies.

In this context, the SEC also wants companies that offer staking services to register with the SEC as a securities platform.”

Analysts also noted that alongside the SEC’s increased regulatory actions cryptocurrency He also said he expects it to make regular reporting and auditing of reserves, assets and liabilities mandatory for its platforms.

“These regulations will lead to the convergence of the crypto ecosystem to the traditional financial system over time.”