JPMorgan Chase: The ruling on XRP is a "landmark victory" for the encryption industry, or it may affect other cases
According to CoinDesk, JPMorgan Chase wrote in a research note on Friday that the U.S. Southern District Court’s ruling in part in favor of Ripple represents a landmark victory for the cryptocurrency industry and clarifies what is and is not a security.
"Large capital pools have been reluctant to participate in the industry amid unclear rules, and associated regulatory pressures have slowed innovation, adoption, and the valuation of the overall crypto ecosystem, which in our view will continue This is intensifying as regulatory action has intensified over the past year."
"The ruling is certainly a landmark victory for the industry. It provides legal clarity and defense of why and what does not constitute a security, and the overall result supports issues that many in the industry have been debating," the report said. Ripple's victory is certainly positive, but JPMorgan Chase also pointed out that this is not the end of the regulatory battle in the encryption industry, because the US SEC can appeal this ruling and may continue to pursue similar cases in the future.
"We do believe that the industry is now on a stronger footing, which could affect ongoing cases and the pace of further litigation, but at a high level we don't expect regulatory pressure to disappear," the report said. It just lessens."
According to CoinDesk, JPMorgan Chase wrote in a research note on Friday that the U.S. Southern District Court’s ruling in part in favor of Ripple represents a landmark victory for the cryptocurrency industry and clarifies what is and is not a security.
"Large capital pools have been reluctant to participate in the industry amid unclear rules, and associated regulatory pressures have slowed innovation, adoption, and the valuation of the overall crypto ecosystem, which in our view will continue This is intensifying as regulatory action has intensified over the past year."
"The ruling is certainly a landmark victory for the industry. It provides legal clarity and defense of why and what does not constitute a security, and the overall result supports issues that many in the industry have been debating," the report said. Ripple's victory is certainly positive, but JPMorgan Chase also pointed out that this is not the end of the regulatory battle in the encryption industry, because the US SEC can appeal this ruling and may continue to pursue similar cases in the future.
"We do believe that the industry is now on a stronger footing, which could affect ongoing cases and the pace of further litigation, but at a high level we don't expect regulatory pressure to disappear," the report said. It just lessens."