One of the world’s leading financial service providers has met the Crypto Task Force of the US Securities and Exchange Commission (SEC) to discuss the regulations of digital assets.
According to a recent memo, three members of JPMorgan Chase met the regulator to talk about moving existing traditional capital markets on-chain and the business footprint of the bank giant in the crypto industry.
Says the memo.
“On June 17, the staff of Crypto Task Force met representatives of JPMorgan Chase. The subject discussed was approaches to tackle issues related to the regulation of crypto activa …
Agenda:
- Overview of the existing business footprint, including REPO on existing JPMC platforms of digital financing and digital debt services. Additional discussion about the potential competitive angle as the markets evolve.
- Analysis area in which the potential impact of the activity of existing capital markets is assessed, migrating to public blockchain. Specifically which areas of the existing model can change, and how companies can assess the risk and benefits of those changes.
- Future involvement with the Task Force. ”
Earlier this week, JPMorgan Chase submitted a trademark to launch JMPD, his own crypto service provider and deposit options. When submitting, the bank said that the trade, exchange, transfer and payment processing services would provide for digital assets and publish it.
Walmart, Amazon and other business giants are also reportedly considering starting their own stablecoins as a means to streamline payments and avoid credit costs.
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