He said that Coinbase will continue to bank with JP Morgan amid increasing regulatory pressure.
Criticism about the relationship between Coinbase and JP Morgan came amid growing criticism over cryptocurrencies. The fact that 2022 is not a very bright year for cryptocurrencies has made the crypto community suspicious.
Relationship Between JP Morgan and Coinbase Has Been Criticized
There is no increasing regulatory scrutiny between Coinbase and one of its banking partners, JPMorgan Chase.
In a statement, two people familiar with the matter came under criticism about the relationship between the cryptocurrency exchange and Washington and the growing scrutiny.
When asked to comment on the matter, Coinbase pointed to the website that lists its banking partners. JP Morgan declined to comment on the matter.
The Securities and Exchange Commission (SEC) has not given the industry much confidence as it has cracked down on a number of crypto companies, including a recent deal with Kraken over allegations of its staking program. Paxos was ordered to cease issuing BUSD by the New York Department of Financial Services the other day.
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