JPMorgan CEO Jamie Dimon slams Clarity Act
JPMorgan Chase CEO Jamie Dimon expressed dissatisfaction with the Clarity Act, stating it allows crypto platforms to pay interest on deposits and stablecoins without sufficient anti-money laundering protections.
The banking industry will not accept this approach, Dimon warned, claiming it would eventually lead to a system collapse.
Dimon also stated that the banking industry will fight the bill and refuse to bow down to Coinbase’s lobbying efforts, which he claims are backed by hundreds of millions of dollars.