JPMorgan CEO Warns of Risks in U.S. Crypto Market Structure Bill

JPMorgan CEO Jamie Dimon has issued a warning regarding the U.S. crypto market structure bill, known as the CLARITY Act. According to ChainCatcher, Dimon expressed concerns that allowing stablecoin issuers to offer returns similar to bank deposit interest could lead to significant risks. He noted that while he is not worried about stablecoins themselves, the lack of regulatory protection in offering such returns could result in failures. The CLARITY Act aims to establish a clear regulatory framework for the U.S. crypto industry and delineate the responsibilities of regulatory bodies. Previously, Patrick Witt, Executive Director of the U.S. Digital Asset Advisory Committee, indicated that the Trump administration planned to push for the bill's passage by July 4. However, data from Polymarket shows that the probability of the CLARITY Act passing by 2026 has decreased from nearly 70% to just over 50%.