简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:According to JPMorgan, American crypto firms may look for opportunities outside the U.S. thanks to the U.S. regulatory crackdown.
According to JPMorgan, American crypto firms may look for opportunities outside the U.S. thanks to the U.S. regulatory crackdown.
In response to the U.S. regulatory crackdown on the cryptocurrency industry, American crypto firms are increasingly seeking opportunities overseas, according to a recent research report by JPMorgan. The report states that the U.S.-based arm of Binance has called off its deal with Voyager, while Coinbase has launched Coinbase International, a crypto derivatives exchange outside the U.S., as a proactive measure in response to the rising U.S. regulatory pressures.
The regulatory crackdown has not only increased pressure on crypto firms but has also created confusion and uncertainty regarding important issues such as ether‘s status as a security. This lack of clarity will ultimately impact the cryptocurrency’s demand and liquidity.
JPMorgan further notes that the regulatory clampdown has deterred institutional investors from engaging with crypto. As a result, investors have been buying gold as a hedge against a potential “catastrophic scenario” in the wake of the collapse of Silicon Valley Bank. The report suggests that Bitcoins rally this year appears to have been driven primarily by retail buying, rather than institutional investors. The largest cryptocurrency has gained 76% year-to-date.
Another catalyst for Bitcoin‘s outperformance has been Bitcoin Ordinals, a new protocol that allows non-fungible tokens (NFTs) to be stored on the Bitcoin blockchain. The addition of NFTs to Bitcoin’s ecosystem has generated significant interest among investors and has helped drive the cryptocurrencys value higher.
In light of the regulatory crackdown, American crypto firms are increasingly looking for opportunities outside the U.S. in order to avoid regulatory hurdles and take advantage of more favorable regulatory environments. However, JPMorgan warns that the lack of clarity regarding important regulatory issues, such as ethers status as a security, will continue to impact the demand and liquidity of cryptocurrencies.
In addition, the regulatory clampdown has deterred institutional investors from engaging with crypto, which has created uncertainty in the market. However, the addition of NFTs to Bitcoin‘s ecosystem has generated significant interest among investors and has helped drive the cryptocurrency’s value higher.
Overall, the cryptocurrency industry is facing significant regulatory pressure in the U.S., which has caused American crypto firms to seek opportunities overseas. However, the lack of clarity on important regulatory issues will continue to impact the demand and liquidity of cryptocurrencies, and the regulatory crackdown has deterred institutional investors from engaging with the crypto market. Nonetheless, the addition of NFTs to Bitcoin‘s ecosystem has generated significant interest among investors and has helped drive the cryptocurrency’s value higher.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
You've heard many times that geopolitical events have a significant impact on the Forex market. But do you know what geopolitical events are and how they affect the FX market? Let us learn about it today.
Trade execution is a pivotal moment for traders. It is when analysis turns into action, and potential profits or losses become reality. However, for many traders, this moment is accompanied by fear. Why does this happen, and how can you address it?
In the midst of financial innovation and regulation, WikiGlobal, the organizer of WikiEXPO, stays abreast of industry trends and conducts a series of insightful and distinctive interviews on pivotal topics. We are delighted to have the privilege of inviting Simone Martin for an in-depth conversation this time.
Discover how MultiBank Group, a global leader in financial derivatives, secured three prestigious awards at Traders Fair Hong Kong 2024, highlighting its innovative trading solutions and industry excellence.