Executive officials at the largest bank in America met with the Crypto Business Squad at the Securities and Stock Exchange Committee to discuss the regulation of digital assets and the potential repercussions of moving capital markets.
JPMorgan Chase Executive Managers Discussion with SEC “The potential impact of the current immigrant capital markets to Blockchain Public” – including areas of the current model may change and how companies can assess the risks and benefits of those changes, according to SEC Note Share on Tuesday.
The two groups also discussed the current “business fingerprint” of JPMorgan in the encryption space, including its current digital platform, which undertakes the re-purchase agreements-a kind of borrowing in the short term in the financial markets that fall under its “digital financing” and “digital debt services”.
JPMorgan also evaluated the place where a “competitive angle” can come out – to stay in the forefront of the race as financial institutions are looking for Blockchain for faster and cheapest transactions while opening new revenue flows through distinctive assets.
Three of JPMorgan executives meet SEC
Scott Lucas, Justin Cohen and Aaron Evin were the three executives at JPMorgan who spoke with the SEC Checks group.
Lucas is the head of the company’s digital assets, while Cohen is the global head of the development of stock derivatives; Both manage managers in the company.
Iovine is an executive director and head of the Digital Asset Regulatory Policy at JPMorgan.
Jpmorgan Pilots JPMD Deposit codes
The jpmorgan meeting with SEC comes as the company announced Experimental program to deposit the distinctive symbol On Tuesday, with the bank’s launch a deposit code, JPMD, on Coinbase’s Blockchain a base.
Coinbase institutional customers can use JPMD for transactions as soon as the pilot is complete, which is expected to extend over several months.
A day ago, jpmorgan A request for a brand For JPMD-which has identified a set of encryption services, including digital asset trading, transfers and payment processing.
Related to: Coinbase searches for SEC approval for “Distinguished Arrows” – Report
Jpmorgan Exec says there are no plans yet to Stablecoin
The JPMD brand has raised speculation that JPMorgan will make Stablecoin with other large banks – however, Naveen Malleda, CEO in the Blockchain section in JPMorgan, Kinexys, He said Bloomberg that symbolic deposits are a “superior alternative to stablecoins” for institutions, noting that fracture reserve support makes them more developing.
The distinctive codes of deposit are the dollar deposits held in the bank accounts of customers and work within Traditional banking framework More than stablecoins, which is just a digital representation of Fiat currencies supported by cash and cash rewards.
magazine: Older investors risk everything for retirement from encryption
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