JPMorgan CEO: Interest-bearing stablecoins should adhere to banking regulatory standards

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Odaily Planet Daily reports that JPMorgan CEO Jamie Dimon stated in an interview with CNBC that stablecoins offering yields should face the same regulatory standards as bank deposits to avoid creating a parallel banking system. Jamie Dimon believes that if companies provide interest-like rewards on balances, they should be regulated as banks and meet requirements for capital, liquidity, and FDIC insurance. Currently, legislators are debating the stablecoin yield provisions in the Crypto Market Structure Bill, with banks concerned that interest-bearing stablecoins could lead to a loss of traditional institutional deposits. Jamie Dimon emphasized that JPMorgan supports competition and blockchain innovation but must ensure fairness and balance.

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