ChainCatcher reports that JPMorgan Chase CEO Jamie Dimon recently stated on CNBC that he supports the development of blockchain technology but emphasizes that stablecoin rewards should be subject to the same regulatory standards as traditional banking products. He believes that any company holding customer funds and paying interest is essentially engaged in banking and should be regulated accordingly.
Dimon suggests offering rewards based on trading activity rather than account balances as a compromise. Currently, the Senate Agriculture Committee has passed parts of the Market Structure Act, which aims to clarify the jurisdiction of the SEC and CFTC, requiring customer fund segregation and reserve proof.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Sen. Tillis Blocks Crypto Bill Without Ethics Provisions, TD Cowen Says
Republican Senator Thom Tillis has become the "latest roadblock" to the crypto Clarity Act by insisting ethics provisions be included before the bill leaves the Senate, according to investment bank TD Cowen. Tillis, a member of the Senate Banking Committee, told Politico on Monday that he would oppo
CryptoFrontier1h ago
Hoskinson Calls Clarity Act 'Insanity,' Says It Would Classify XRP as Security
Charles Hoskinson, founder of Cardano, stated in an interview that the Clarity Act in its current form would classify XRP, Ethereum, and ADA as securities if those projects were founded today, contradicting celebrations from the XRP community over the bill's passage.
The Security Trap Mechanism
H
CryptoFrontier1h ago
Trump Softens Prediction Market Criticism, Cites Support from 'Smart People'
President Donald Trump reversed his recent criticism of prediction markets on Saturday, telling reporters that "very smart" people he knows support the industry, despite his Thursday comments characterizing the sector as contributing to turning "the whole world" into "somewhat of a casino." The
CryptoFrontier1h ago
Canada's Bill C-25 Passes House Principle Vote, Bans Crypto Donations to Federal Political Campaigns
Gate News message, April 27 — Canada's "Strong Free Elections Act" (Bill C-25) passed a principle vote in the House of Commons and was referred to committee for detailed review. The bill, which received cross-party support with minimal substantive opposition, proposes to prohibit donations in
GateNews3h ago
Europe's MiCA Framework Makes Euro Stablecoin 'Safe but Uncompetitive,' Blockchain Association Reports
Gate News message, April 27 — The Blockchain for Europe association released a report on Monday that concludes the European Union's Markets in Crypto-Assets Regulation (MiCA) framework has significantly enhanced the safety of euro stablecoins but simultaneously undermined their commercial
GateNews6h ago
Pakistan's Virtual Assets Regulator Requires Prior Authorization for Crypto Service Providers
Gate News message, April 27 — Pakistan's Virtual Asset Regulatory Authority (PVARA) has issued a regulatory notice requiring all virtual asset service providers to obtain prior authorization before commencing operations or making public announcements. The directive brings all virtual asset
GateNews7h ago
