JPMorgan Chase leads customers to retail bitcoin, and the global policy is loose!

On July 28, JPMorgan Chase, a US financial institution giant, became the first bank in the United States to provide bitcoin to retail customers, creating the history of cryptocurrency. According to the news obtained by ZB Research Institute, JPMorgan Chase’s move is to expand bitcoin services to retail customers. Previously, JPMorgan Chase’s bitcoin sales services were only available to super-rich customers. According to statistics, this move by JP Morgan Chase will expand the new Bitcoin application market worth 630 billion US dollars.

According to ZB Research Institute, investment banking giant Goldman Sachs has submitted an application to the U.S. Securities and Exchange Commission for an exchange traded fund (ETF), called “Goldman Sachs innovation defi and blockchain stock ETF”, which will provide exposure to decentralized Finance (DeFi) and blockchain listed companies. In the relevant documents submitted, Goldman Sachs said that the fund would invest at least 80% of its assets in companies promoting blockchain technology and financial digitization.

On July 28, Harvey Finkelstein, President of e-commerce giant Shopify, announced that the company now allows businesses on its platform to sell NFT directly through its stores. Previously, its businesses had to sell NFT through a third-party market. One of the first Shopify merchants to provide NFT will be the Chicago Bulls of the NBA, which launched the “Legacy Collection” series of NFT on Monday, including the team’s six championship rings.

As of the morning of July 28, the total market value of global cryptocurrency rose to $1.41 trillion, and bitcoin was traded around $39000. ZB Research Institute believes that through the performance of the global market and the attitude of relevant financial and e-commerce institutions in the United States, it can be determined that the relevant policies and supervision of cryptocurrency in the United States are becoming loose, and the attitude towards cryptocurrency has changed from hostility to “examination”. According to relevant reports, most U.S. financial institutions have a positive evaluation of the impact of cryptocurrency on the U.S. economy. Some analysts pointed out that cryptocurrency is more conducive to public interests and market development. Under optimistic estimates, US state governments may respond positively to the ETF and relevant laws and regulations of cryptocurrency in 2022.

As the four CMA countries in the common currency area, Lesotho, Swaziland, South Africa and Namibia need to look at cryptocurrency together. If CMA is forcibly identified as an economic whole, it will affect the whole CMA currency pool. Therefore, the legalization of cryptocurrency, Namibia will take measures to include cryptocurrency only when the CMA four countries collectively agree to this.

On July 28, the Kazakhstan blockchain and Data Center Industry Association released a relevant report that an exchange will begin to cooperate with local banks to carry out a pilot project to allow customers to officially and publicly trade cryptocurrencies.

ZB Research Institute believes that it will still be many difficulties in the synchronous promotion of the process of global cryptocurrency compliance and Bitcoin monetization. However, with the joint efforts of global financial institutions, Internet industry and emerging industries, cryptocurrency has been widely recognized as “value”. Except for a few countries, the attitude of most countries towards cryptocurrency tends to ease. Some analysts believe that the overall recognition of global cryptocurrency will become an opportunity for cryptocurrency to really step into the traditional financial field.

The world’s leading cryptocurrency exchange: ZB Academy is to provide prefessional blockchain insights.