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JPMorgan Says Agency Moves Offset Clarity Act Failure
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JPMorgan Says US Regulators Are Offsetting CLARITY Act Setback, but Political Risks Remain
JPMorgan analysts say recent actions by US financial regulators are partially offsetting the cryptocurrency industry's legislative setback following the Senate's failure to advance the CLARITY Act in September. In an October 21 research report, a team led by Nikolaos Panigirtzoglou said initiatives from the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC) and Office of the Comptroller of the Currency (OCC) co…
JPMorgan believes that recent initiatives by US agencies can facilitate the entry of institutions into the crypto sector, but warns that the lack of a law passed by Congress maintains political and legal risks.
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