【JPMorgan Analyst: Crypto Regulation Under the Trump Administration Could See Positive Developments, But Approval for a Strategic Bitcoin Reserve Is Unlikely】 November 15th, according to The Block, a J.P. Morgan analyst outlined six key regulatory and market changes in the cryptocurrency industry under the Trump administration, which could reshape the U.S. cryptocurrency landscape under the Trump administration and its Republican-led Congress.The J.P. Morgan analyst stated that several stalled cryptocurrency bills may quickly receive approval. These bills include the "Financial Innovation and Technology Act of the 21st Century" (FIT21), which clarifies the regulatory responsibilities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), providing much-needed regulatory clarity for the crypto industry.Furthermore, as the regulatory framework becomes clearer, the SEC's enforcement approach may evolve into a more collaborative one. High-profile lawsuits against companies like Coinbase may be moderated, settled, or even dismissed. Regulatory notices issued to companies like Robinhood and Uniswap may be reconsidered, reducing litigation risks for the broader crypto industry. The U.S. Securities and Exchange Commission's restriction on banks holding digital assets under Staff Accounting Bulletin No. 121 (SAB 121) may be repealed.In addition, the J.P. Morgan analyst also stated that the SEC may require resolution of lawsuits regarding unregistered securities and may require the launch of futures-based ETFs for these assets before approving spot ETFs. These factors may delay the approval of new ETFs or require re-filing. Clearer regulation may increase venture capital, mergers and acquisitions, and initial public offerings in the cryptocurrency space. Although a strategic Bitcoin reserve would greatly enhance Bitcoin's legitimacy and potentially drive up its price, the likelihood of its passage is low.