JPMorgan: The ruling on XRP is a "milestone victory" for the cryptocurrency industry and may impact other cases.
2023-07-15 00:06
Odaily News: In a research report on Friday, JPMorgan Chase stated that the partial support for Ripple by the Southern District Court in the United States represents a milestone victory for the cryptocurrency industry and provides clarity on what constitutes a security and what does not.
The analyst wrote, "In the absence of clear rules, large capital pools have been hesitant to participate in this industry, and the related regulatory pressures have slowed down innovation, adoption, and the overall valuation of the crypto ecosystem. In our view, this situation is worsening as regulatory actions have intensified over the past year."
The report stated, "This ruling undoubtedly represents a milestone victory for this industry. It provides legal clarity and defense on what constitutes a security and what does not, supporting the overall results that many industry insiders have been debating."
While Ripple's victory is certainly positive, JPMorgan Chase also pointed out that this is not the end of the regulatory struggle in the crypto industry, as the U.S. SEC can appeal this ruling and may continue to pursue similar cases in the future.
The report stated, "We do believe that the industry has now established a stronger foundation, which may impact ongoing cases and the pace of further litigation. However, at a higher level, we do not believe that regulatory pressure will disappear; it has just eased." (CoinDesk)
The analyst wrote, "In the absence of clear rules, large capital pools have been hesitant to participate in this industry, and the related regulatory pressures have slowed down innovation, adoption, and the overall valuation of the crypto ecosystem. In our view, this situation is worsening as regulatory actions have intensified over the past year."
The report stated, "This ruling undoubtedly represents a milestone victory for this industry. It provides legal clarity and defense on what constitutes a security and what does not, supporting the overall results that many industry insiders have been debating."
While Ripple's victory is certainly positive, JPMorgan Chase also pointed out that this is not the end of the regulatory struggle in the crypto industry, as the U.S. SEC can appeal this ruling and may continue to pursue similar cases in the future.
The report stated, "We do believe that the industry has now established a stronger foundation, which may impact ongoing cases and the pace of further litigation. However, at a higher level, we do not believe that regulatory pressure will disappear; it has just eased." (CoinDesk)
Recommended Articles
