JPMorgan has outlined key changes it expects in the crypto industry and its regulation following the collapse of cryptocurrency exchange FTX. bitcoin
have been introduced in Congress to make the Commodity Futures Trading Commission the primary regulator of crypto assets.New regulatory initiatives are likely to emerge focusing on custody and protection of customers’ digital assets as in the traditional financial system.
Next, “New regulatory initiatives are likely to emerge focusing on unbundling of broker, trading, lending, clearing, and custody activities as in the traditional financial system,” the JPMorgan report adds, noting: Furthermore, “New regulatory initiatives are likely to emerge focusing on transparency mandating regular reporting and auditing of reserves, assets, and liabilities across major crypto entities,” the JPMorgan strategist detailed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Centralized Crypto Exchanges Will Remain Dominant Despite FTX Collapse: JPMorganDeFi protocols rely heavily on centralized exchanges to be able to function and it would likely take a long time until price discovery shifts from centralized to decentralized exchanges, the bank's analysts said.
Read more »
Lagarde calls for broader crypto regulation following FTX collapseThe European Central Bank's Christine Lagarde said that the collapse of FTX emphasizes the need for more rules around the digital asset industry, reiterating her call for more crypto legislation beyond MiCA.
Read more »
CFTC Commissioner on Crypto Regulation Outlook Amid FTX ContagionCommodity Futures Trading Commission (CFTC) Commissioner Summer K. Mersinger discusses her outlook for the U.S. crypto regulatory landscape and the CFTC's role as BlockFi becomes the latest crypto firm to file for Chapter 11 bankruptcy protection following FTX's collapse.
Read more »
SEC chair Gary Gensler rushing to unveil big changes amid FTX scandalThe word inside the SEC is that Gensler wants to get his proposed changes done before the new GOP Congress takes over Jan. 3.
Read more »
$740M in crypto assets recovered in FTX bankruptcy so farThe company tasked with locking down the assets of the failed cryptocurrency exchange FTX said they’ve managed to recover and secure $740 million in assets so far, a fraction of the potential billions of dollars likely missing from the company’s coffers.
Read more »
A US Senate hearing will discuss FTX, New York bans proof-of-work and FTX evaluates its assets: Hodler’s Digest, Nov. 20-26Tornado Cash developer Alexey Pertsev to stay detained until next year’s hearing. What else have you missed? Worry not, our Hodler's Digest is here to catch you up.
Read more »