Wall Street firms, including JPMorgan Chase, met with the U.S. SEC's crypto task force to discuss concerns regarding DeFi and other issues.

PANews reported on January 29 that, according to Decrypt, representatives from Wall Street giants JPMorgan Chase, Citadel, and the securities industry trade organization SIFMA met with the U.S. Securities and Exchange Commission's (SEC) Crypto Working Group on Tuesday to discuss concerns raised by regulators' lenient stance on digital assets.

Participants at the meeting expressed concern that the SEC's upcoming plan to grant exemptions to tokenized securities could harm the overall U.S. economy, and also expressed concern about the SEC's plan to exclude some DeFi projects from securities law compliance obligations. SIFMA, in its meeting materials, pointed out that regulatory treatment should be based on economic characteristics rather than technology or labels, and that broad exemptions for tokenized trading activities could weaken investor protection and lead to market chaos, citing the potential risks of the October 2025 crypto market flash crash as an example.