JPMorgan Chase, one of the world’s leading financial institutions, held a meeting on the regulation of crypto assets with the crypto mission force of the United States Securities and Stock Exchange Commission (SEC). According to the information note announced to the public, in this meeting, the transportation of traditional capital markets to blockchain technology and the bank’s activities in the crypto area were discussed.
JPMorgan Crypto Money Meeting
JPMorgan Chase officials have discussed various issues on crypto asset regulation with SEC representatives. In the meeting agenda, the evaluation of business models on their existing platforms, including the current digital financing and digital debt services in the meeting, came to the fore. In addition, the effects of the shift of capital market activities to public Blockchain were among the topics discussed.
It was also analyzed in detail how such a technological transition could lead to changes in existing business models and the criteria of companies to evaluate the risks and benefits of these changes. During the meeting, it was reported that the consensus was reached on the maintenance of the cooperation between the parties in the following periods.
JPMorgan and Crypto Coins
Shortly before the meeting, the JPMorgan Chase applied for a brand registration for its crypto service provider and crypto deposito token. In the documents prepared by the Bank, purchase-sale, transfer and payment transactions and export activities for crypto assets are planned. This breakthrough shows that the tendency of digitalization in the traditional banking sector has increased and that major financial institutions are looking for adaptation to this area.
There are allegations that other large companies operating on a global scale are working on similar initiatives. It is claimed that multinational companies such as Walmart and Amazon make plans to launch their own stablecoins. These moves are thought to have purposes such as facilitating payment processes and avoiding credit card commissions.
The process of transition to crypto of institutions
Among the issues discussed, the compliance mechanisms of traditional financial institutions on the way to digitalization and the shaping of the regulatory frame took an important place. According to experts, the transportation of capital markets to blockchain systems has the potential to increase the speed and transparency of financial processes. However, uncertainties and possible risks related to this process need joint evaluations of regulators and sector representatives.
JPMorgan Chase: “How the existing business models can evolve with Blockchain technology and the analysis of the opportunities and risks that this transformation process will bring, requires increasing the cooperation with regulatory institutions.”
The approach of regulators in this field and the communication with the sector representatives is important in determining the legal framework of the markets. Recently and similar meetings are among the steps taken in the creation of the legal status of digital assets.
The use of digital assets in the financial sector is expected to become widespread. With the spread of blocky -based practices, it is possible that financial institutions will make changes both in risk analysis and competition strategies. The establishment of legal and technical standards for the process is important for the establishment of a safe environment for market players. While investments and regulations in digital financial services increase, institutions will have to prioritize security, transparency and competitiveness.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
