JP Morgan, Citadel raise concerns with SEC over permissive crypto policies

Representatives from JP Morgan, Citadel, and the Securities Industry and Financial Markets Association (SIFMA) recently met with officials from the U.S. Securities and Exchange Commission's (SEC) crypto task force to discuss potential concerns regarding the agency's cryptocurrency policies, Decrypt reported. The firms expressed worries that the SEC's proposed exemption for tokenized securities innovation, which would allow crypto companies to issue and trade such assets without full registration, could negatively impact the broader economy. As an example, they cited an incident last October when leveraged positions worth $19 billion were liquidated simultaneously.