Jamie Dimon is not interested in playing nice with crypto. The JPMorgan Chase CEO went after both the Clarity Act and Coinbase CEO Brian Armstrong during a Fox Business interview on May 29, accusing Armstrong of pouring “hundreds of millions” into lobbying efforts to get the digital asset bill across the finish line.
The broadside lands at a particularly sensitive moment. The Senate Banking Committee advanced the Clarity Act with a 15-9 bipartisan vote on May 14, and the White House has set an ambitious July 4 target for full congressional passage.
The feud that started in Davos
This isn’t the first time Dimon and Armstrong have clashed. The two had a confrontation at Davos in January 2026, where Dimon accused Armstrong of being “full of sh–” regarding his criticisms of bank lobbying efforts.
Dimon’s core complaint centers on what he sees as inadequate safeguards in the Clarity Act. He specifically pointed to weaknesses in anti-money laundering and Bank Secrecy Act compliance provisions, particularly around stablecoin rewards. He made clear that JPMorgan, the largest bank in the US by assets, will actively oppose the legislation in its current form.
