This is a relatively simple version of cioppino, an Italian tomato and peppers-based fish stew.
Serving suggestion: Fresh linguine.
Heat a large stockpot and sauté the onions in olive oil until softened, but not browned.
Add garlic and sauté briefly, until the aroma softens slightly.
Add bell peppers and oregano. Sauté briefly just to come up to temperature.
Add jalapeños and tomato paste and sauté until the vegetables are soft and the entire mixture deepens in color.
Add the wine [If using an Instant Pot, see modification 1] and continue to cook as the wine boils and this base starts to thicken. Season with pepper.
Add clam juice and diced tomatoes and return to a boil. [If using an Instant Pot, see modifications 2 and 3] This should simmer for a while (about half an hour) as the flavors concentrate. Now is a good time to taste and adjust the flavors of your cioppino base. The base can also be stored for later at this point and either frozen for much later or refrigerated for the next day.
With your cioppino base at a boil, add the basil and parsley, then your seafood (scallops and white fish or shrimp). If you have fish of much different sized chunks (like large sea scallops and small shrimp), separate them and put the larger chunks in first, adding the smaller chunks after a minute or so. Seafood cooks quickly and you absolutely do not want to overcook it.
Adjust the flavor with additional salt and fish sauce as desired.
When the scallops are done to your liking serve, preferably over fresh linguine.