JPMorgan Chase: Due to Congressional obstruction, the likelihood of U.S. strategic cryptocurrency reserves being approved may be less than 50%

JPMorgan Chase believes that due to congressional obstacles, the likelihood of U.S. strategic crypto reserves being approved is less than 50%. In addition, concerns about risk and volatility will make it particularly challenging to include XRP, SOL, and ADA in such reserves. Nikolaos Panigirtzoglou, Managing Director of Global Market Strategy at JPMorgan Chase said: "We believe that approving a U.S. strategic cryptocurrency reserve is not the most likely scenario (assuming congressional approval is needed). Therefore, we think this possibility is less than 50%. If the U.S. strategic crypto reserve ultimately gets approved, then other smaller tokens besides Bitcoin and Ethereum will be difficult to include because including such tokens would raise more concerns about risk and volatility." (Theblock)