JPM - JPMorgan: US Crypto Regulations Signal Opposition To CBDCs And Non-Compliant Stablecoins | Benzinga
A recent report by JPMorgan (NYSE:JPM) casts doubt on the immediate future of cryptocurrency regulation in the United States.
What Happened: The bank’s analysts, led by Nikolaos Panigirtzoglou, found a growing number of regulatory initiatives emerging but found several key points of contention.
Firstly, it appears regulators may be opposed to the launch of a central bank digital currency (CBDC), a digital form of U.S. currency issued by the Federal Reserve.
Secondly, the initiatives seem to discourage local banks from embracing crypto altogether, Coindesk reported.
The regulations also appear to target non-compliant stablecoins, such as Tether (CRYPTO: USDT).
Stablecoins are cryptocurrencies pegged to a stable asset, ...