The U.S. Securities and Exchange Commission (SEC) Crypto Task Force met with one of the leading global financial service firms to discuss regulations for digital assets.
Three members of JPMorgan Chase, according to a memo released recently, met with regulators to discuss the move to on-chain traditional capital markets and JPMorgan Chase’s presence in the crypto market.
The memo says.
The Crypto Task Force Staff and representatives of JPMorgan Chase met on June 17th. Discussions focused on ways to address issues related to the regulation of cryptocurrency assets.
Agenda:
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Review of the existing footprint of JPMC, which includes Repo and Digital Debt Services. Discussion on potential competition as the markets change.
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Analyse the impact that existing capital market activity could have on public blockchain. What areas in the current model could change and how companies can assess risk and benefit of these changes.
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“Future engagement with Task Force”
JPMorgan Chase has filed a trademark application to launch JMPD – its own cryptocurrency service provider. The bank stated that it will provide digital asset trading, exchange and transfer services, as well as payment processing.
Walmart, Amazon and other giant corporations are also said to be considering creating their own stablecoins in order to streamline payments and avoid credit fees.
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The post JPMorgan Chase meets with Crypto Task Force for Regulation of Digital Assets can be updated as new information becomes available.
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