JPMorgan Warns Agency Crypto Rules Lack Legal Durability
Following the Senate's rejection of the CLARITY Act, JPMorgan warns that agency-based crypto rules lack the legal durability of legislation, with XRP identified as the most vulnerable to future reversals compared to Bitcoin.
According to new analysis from GN auto markets/crypto, JPMorgan has further clarified that XRP faces the highest risk of regulatory reversal since its status relies on a reversible SEC-CFTC interpretation rather than statute, whereas Bitcoin is considered the most resilient asset against potential administrative shifts.
Source: yahoo.com24/7 Wall St. reports that industry figures, including Saylor and Garlinghouse, are pivoting to agency rulemaking as a fallback, yet Bernstein acknowledges that only legislation offers a 'fool-proof shield' against future political reversals. The article highlights that unlike statutes, SEC actions remain vulnerable to leadership changes, a fragility JPMorgan emphasizes in its client warnings.
Source: 247wallst.comThe US Senate rejected the CLARITY Act by a 49-50 vote. JPMorgan states that agency rules are less durable than legislation because courts can reverse them.
Source: AOL.com
