JPMorgan’s Dimon Rips Coinbase CEO Over Crypto Lobbying Push
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JPMorgan CEO Jamie Dimon publicly accused Coinbase CEO Brian Armstrong of heavy lobbying as banks push back against the CLARITY Act, saying banks 'will not accept' the bill in its current form and escalating regulatory tensions in crypto. The Senate Banking Committee advanced the bill in a 15-9 vote and it now awaits a full Senate vote, while banks oppose provisions like stablecoin rewards over fears they could drain deposits used for loans, creating adoption and regulatory risk.
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- Dimon accused Armstrong of heavy lobbying as banks fight the CLARITY Act’s current form.
- Banks oppose stablecoin rewards, claiming they could drain deposits used for loans.
- The Senate Banking Committee advanced the bill in a 15-9 vote and now awaits a full Senate vote.
JPMorgan Chase CEO Jamie Dimon has sharply criticized Coinbase CEO Brian Armstrong over a major crypto bill moving through the Senate, escalating a fight between banks and digital asset platforms.
Speaking Friday at the Reagan National Economic Forum, Dimon said banks “will not accept” the bill in its current form. He also accused Armstrong of using heavy lobbying pressure to shape the legislation.
The clash centers on the CLARITY Act, a landmark digital asset bill that would create a broader legal framework for crypto markets in the United States. The bill aims to define which assets fall…
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