SEC's Crypto Crackdown Sparks Urgency for Regulatory Framework.

JPMorgan Chase has emphasized the need for a comprehensive regulatory framework for the cryptocurrency industry in the US, following recent lawsuits filed by the SEC against Binance and Coinbase. The SEC believes that most cryptocurrencies should be categorized as securities, subjecting them to SEC oversight and regulatory measures applicable to traditional securities. JPMorgan warned that until a clear regulatory structure is in place, cryptocurrency activities will likely keep shifting away from the US towards decentralized entities, and crypto venture capital funding may stay muted.