JPMorgan CEO Warns: Stablecoin Could ‘Blow Up’ If It Offers Deposit-Like Rates
2026-05-31 11:34

BlockBeats News, May 31, JPMorgan Chase CEO Jamie Dimon issued a warning regarding the United States crypto market structure bill, the "CLARITY Act," cautioning that if stablecoin issuers are allowed to provide users with returns in a manner similar to bank deposit interest, the related model could eventually "blow up." Dimon stated that the bill allows crypto companies to offer users returns similar to deposit interest through stablecoin accounts in the absence of adequate regulatory protection, a setup the banking industry would not accept. He said, "I'm not worried about stablecoins themselves, but if this scenario occurs, I won't participate, and it will eventually blow up."

The "CLARITY Act" aims to clarify the regulatory framework for the U.S. crypto industry and delineate regulatory agency responsibilities. Earlier, Patrick Witt, the Executive Director of the U.S. Digital Asset Advisory Committee, stated that the Trump administration plans to push for the bill's passage by July 4. However, according to Polymarket data, the probability of the "CLARITY Act" passing within 2026 has fallen from nearly 70% to slightly above 50%.

Source: BlockBeats

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