JPMorgan Managing Director Nikolaos Panigirtzoglou believes the release of Hinman Docs in the Ripple vs. SEC case will have an impact on crypto regulation. Panigirtzoglou said the release of this document could lead to other cryptocurrency projects becoming more decentralized and looking “like Ethereum” to avoid labeling them as securities. said that it is high.
jpmorgan Managing Director Nikolaos Panigirtzoglou: Hinman Docs could spark a decentralization race
JPMorgan Managing Director Nikolaos Panigirtzoglou recently published the Hinman Docs, a series of internal discussions and emails the U.S. Securities and Exchange Commission (SEC) had prior to SEC Official Willian Hinman's 2018 speech. We investigated the effects of being a release and an email. About future crypto regulations.
Panigirtzoglou, a cross-asset market strategist at JPMorgan, said the speech will influence how cryptocurrency regulation is ultimately done by the U.S. Congress “to avoid Ethereum being designated as a security.” Masu.
Panigirtzoglou says:
SEC senior leadership did not believe ether was a security in 2018…SEC officials had reservations about Hinman, including direct statements about ether. '
Ethereum Dilemma
JP Morgan strategists believe in one of Hinman's proclamations. This declares that “if the network on which the token or coin functions is sufficiently decentralized, the asset may not represent an investment contract.” This year we are still targeting competitors.
Panigirtzoglou explains that to be regulated by the Commodity Futures Trading Commission (CFTC), Ethereum can be placed in the same category as Bitcoin and placed as a commodity. But he said these “well-diversified” assets come with “more restrictions and investor protections than currently envisaged for products, but also more onerous than what is required for securities.” may be placed in a separate category of “less than something''.
Whatever is decided in that regard, Panigirtzoglou said Hinman's document will “strengthen the race between the major cryptocurrencies and their respective blockchains, making the crypto space more decentralized and even seemingly He commented that it would be a catalyst for a lot of decentralization, like Ethereum, to avoid being designated as a security.
Ripple CEO Brad Garlinghouse recently criticized the SEC’s stance on Crypto enforcement following the release of Hinman Docs. Garlinghouse said that even with this internal discussion, the SEC “weaponized the lack of regulatory clarity” and decided to charge Ripple for conducting an unregistered securities offering.
What do you think about the Hinman document's possible impact on cryptocurrency regulation? Let us know in the comments section below.
https://news.bitcoin.com/jpmorgan-managing-director-nikolaos-panigirtzoglou-hinman-docs-aer-a-boost-to-ethereum/
