SEC's Crypto Crackdown Sparks Debate on Regulatory Framework and Exchange Registration.

JPMorgan strategists predict that US-based crypto exchanges, including Coinbase and Binance.US, may eventually have to register with the SEC as brokers and most cryptocurrencies could be treated as securities. The SEC's recent lawsuits against Binance and Coinbase for allegedly violating US securities laws could result in exchanges delisting tokens and limiting their respective blockchains' potential development, which could benefit Ethereum. JPMorgan also called for US lawmakers to develop a clear regulatory framework for the crypto industry this year to offer more transparency and investor protection.