Wall Street firms like JPMorgan meet with the SEC's crypto working group to discuss concerns over issues such as DeFi

According to Decrypt, representatives from Wall Street giants JPMorgan, Citadel, and the Securities Industry and Financial Markets Association (SIFMA) held a meeting with the U.S. Securities and Exchange Commission (SEC) crypto working group on Tuesday to discuss concerns raised by the regulator's lenient stance on digital assets.

Attendees expressed worries that the SEC's upcoming plan to provide exemptions for tokenized securities could harm the overall U.S. economy and voiced concerns about the SEC's plan to exclude certain DeFi projects from securities law compliance obligations. SIFMA noted in the meeting materials that regulatory treatment should be based on economic characteristics rather than technology or labels, and that broad exemptions for tokenized trading activities could undermine investor protection and lead to market chaos, citing the potential risks illustrated by the crypto market crash in October 2025.