New Cryptocurrency Report from JP Morgan! “SEC Litigation Is Not As Simple As You Think!”

in the USA cryptocurrency As the pressure continues to increase of the SEC recent victims Binance and Coinbase it happened.

While the SEC is suing the two exchanges for violating securities laws, analysts are weighing the consequences of this lawsuit.

According to the news of Coindesk, JP Morgan analysts He stated that the lawsuits filed by the SEC demonstrate the need for cryptocurrency law in the United States.

Saying that the SEC thinks most cryptocurrencies are securities and that crypto companies should register with them, analysts argued that the SEC’s lawsuits against Binance and Coinabase are not simple lawsuits.

Nikolaos Panigirtzoglou Analysts led by the report included the following statements:

“The SEC’s lawsuits against Binance and Coinbase are not simple legal actions.

Although the SEC claims that some altcoins are securities in these cases, it remains unclear which cryptocurrencies will be classified as securities.

Also, with the lawsuit between the SEC and Ripple, these lawsuits are a reflection of the lack of legal clarity on crypto in the US.

In this context, without a more robust legal framework in the US, crypto activities will likely continue to move out of the US and towards decentralized entities.”

Analysts continued in the report that these moves of the SEC will continue until the end of 2023 for US lawmakers. crypto- He wrote that there is greater urgency for him to create a comprehensive regulatory framework for

Finally, JP Morgan analysts said that if the SEC’s moves are found correct by US lawmakers, US-based exchanges such as Binance and Coinbase. SECHe stated that most cryptocurrencies would qualify as securities.

“If these repressive moves by the SEC are approved by lawmakers, exchanges like Binance and Coinbase will have to register with the SEC.

While this is cumbersome and costly for the crypto industry, it will yield positive results in the ability to properly regulate crypto markets and offer greater transparency and investor protection.”

*Not investment advice.