The $6 Trillion Standoff: Banks vs Crypto over Stablecoin Yield

Jamie Dimon Said JPMorgan Will Fight Stablecoin Yield Rules in the CLARITY Act Before Congress Breaks for Its August Recess.

JPMorgan's CEO still wants to ban all stablecoin yields.

Jamie Dimon Draws a Line: JPMorgan’s Stand Against Yield-Bearing Stablecoins

Jamie Dimon doesn’t mince words. The JPMorgan Chase chief executive has spent years voicing doubts about cryptocurrency. Now he trains his sights on stablecoins that offer yields. And he promises a fight in Congress. In a pointed Fox Business interview with Maria Bartiromo, Dimon made his position clear. “We’ll fight it. If we lose, we lose and we’ll live,” he said of the Digital Asset Market Clarity Act, known as the CLARITY Act. “But it will b…

The $6 trillion standoff: Banks vs crypto over stablecoin yield

The biggest fight in American finance right now is over a single clause: whether digital dollars can pay their holders interest. Banks say yield-bearing stablecoins would drain trillions in deposits and break the lending machine. Crypto says the banks are…