‘The banks will not accept it’: JP Morgans Dimon escalates battle over stablecoin rewards in CLARITY Act debate
JPMorgan Chase CEO Jamie Dimon on Friday yet again sharply criticized Coinbase CEO Brian Armstrong and warned that the latest version of the Clarity Act could ultimately fail if lawmakers do not address concerns from traditional banks over stablecoin regulation. In an interview with Maria Bartiromo on Fox Business, Dimon appeared frustrated by the direction of the debate around stablecoins and digital asset legislation. Asked whether he was satisfied with the current draft of the Digital Asset Market Clarity Act, the crypto market structure bill that will formalize rules around how federal securities and commodities regulators oversee crypto, Dimon said he was not. “No, because it allows them to effectively pay interest on deposits, stablecoins or something like that, without protection that they should have,” Dimon said. “The banks will not accept it that way. … I‘m not worried about stablecoins but if it happened I’m telling you I will have nothing to do with it and it will eventually blow up.” The comments come amid a growing divide between the banking industry and crypto firms as lawmakers prepare for a key markup process that will determine whether the Clarity Act can advance through Congress. Lawmakers are expected to continue negotiating provisions governing









