Despite recent legal setbacks for the SEC, JPMorgan believes that US crypto regulations are unlikely to ease anytime soon. The bank's analysts believe that the SEC is still committed to regulating the crypto industry, and that the recent legal defeats are just temporary setbacks. JPMorgan's analysts cite the SEC's recent enforcement actions against crypto companies as evidence that the regulator is still serious about regulating the industry. The bank also notes that the SEC is currently considering a number of new regulations, including rules on crypto trading platforms and crypto lending.