Executives of the largest U.S. bankers met with the SEC’s crypto committee task force to discuss digital asset regulation and potential consequences for migrating OnChain’s capital market.
JPMorgan executives discussed with the SEC “the potential impact of existing capital market activity migrates to public blockchains” – including which areas of existing models may change and how companies can assess the risks and benefits of these changes. notes Share on Tuesday.
The two groups also discussed JPMorgan’s existing “business footprint” in the cryptocurrency space, including its current digital platform for handling repo agreements, a short-term borrowing in the financial markets of its “digital financing” and “digital debt services” products.
JPMorgan also evaluates where it can open a “competitive angle” — where financial institutions seek faster and cheaper transactions from blockchain, while also unlocking new revenue streams by tagging assets to maintain a lead.
Three JPMorgan executives meet with SEC
Scott Lucas, Justin Cohen and Aaron Iovine are three JPMorgan executives who spoke with the SEC’s cryptocurrency group.
Lucas is the head of the company’s digital asset market, while Cohen is the head of global equity derivatives development. Both are the chairman of the company.
Iovine is executive director and head of digital asset regulatory policy for JPMorgan Chase.
jpmorgan pilot JPMD deposit token
JPMorgan Chase’s meeting with SEC was announced at the company Token Deposit Pilot Program Banks on Tuesday at Coinbase Blockchain according to.
Once the pilot is finished, Coinbase’s institutional clients can use JPMD for the transaction, which is expected to span within a few months.
A day ago, Morgan Submit a trademark application For JPMD, a range of encryption-related services are outlined, including digital asset transactions, transfers and payment processing.
Related: Coinbase seeks SEC approval for “Token Stocks” – Report
Morgan executives say there is no plan for Stablecoin yet
The JPMD trademark sparked speculation that JPMorgan would issue Stablecoin to other big banks – but Naveen Malla, Kinexys, Kinexys, Kinexys, Kinexys, Kinexys, Kinexys, Tell Bloomberg believes token sediments are a “superior alternative” to institutions, noting that their score reserve backups make them more scalable.
The deposit token represents a dollar deposit held in the client’s bank account and in Traditional banking framework More important than Stablecoins, this is simply a digital representation of fiat currency backed by cash and cash equivalents.
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