US crypto regulation bill faces opposition from banking lobby
The US crypto market structure bill is facing significant opposition from the banking lobby, with JPMorgan CEO Jamie Dimon stating that banks will not accept the current version of the bill.
The bill, known as the CLARITY Act, aims to regulate the crypto industry, but Dimon argues that it does not impose the same anti-money laundering and capital reserve requirements on crypto companies as it does on banks.
If the bill is not signed into law in 2026, the window to pass the legislation may not come again until 2030, potentially allowing China to take the lead in the new financial era.