Ethereum May Receive a Unique Classification, Hints JP Morgan

The cryptocurrency sector has been significantly shaken up following lawsuits lodged against exchanges Binance and Coinbase. Increasing uncertainty arises as numerous cryptocurrencies are being declared securities and relevant litigation continues. Ethereum (ETH) is now in the spotlight due to an interesting assertion by JP Morgan, which suggests that the U.S. Congress might allocate Ethereum to a “different category.” New Category for ETH JP Morgan strategists stated that the U.S. Congress might classify Ether (ETH) in the same commodity category as Bitcoin (BTC), or it could be assigned to another particular category that wouldn’t cause significant regulatory issues. They expressed, “Cryptocurrencies, which are too decentralized to be described as securities, such as Ethereum, can be placed in a special ‘other category.’ This category could provide more restrictions and investor protection than currently defined for commodities, but more flexibility than required for securities.” JP Morgan analyst Nikolaos Panigirtzoglou shared these remarks in […] The post Ethereum May Receive a Unique Classification, Hints JP Morgan appeared first on COINTURK NEWS.