JPMorgan: Binance settlement is a positive development for the crypto industry

Agreements between Binance and U.S. authorities are positive, as they neutralise systemic risk to the industry arising from a hypothetical platform collapse. JPMorgan analysts concluded this, The Block reports.

On 21 November, the company agreed to pay multi-million-dollar fines to FinCEN and OFAC, Changpeng Zhao left his post as CEO and posted a $175 million bail to remain at liberty.

“We view the prospect of a settlement as positive, since the uncertainty surrounding the platform itself will diminish, and its business will benefit,” the analysts wrote.

Earlier, Matrixport concluded that Binance will remain among the largest crypto exchanges in the next two to three years, as the agreements with U.S. authorities represent a favorable outcome.