JPMorgan urged Congress to pass clear digital asset legislation with robust safeguards, warning that without robust oversight, crypto innovation could create shadow-banking risks and undermine financial stability...

The bank says Congress should pair regulatory clarity with safeguards as Senate negotiates the Clarity Act.

JPMorgan supports the Digital Asset Market Clarity Act but warns stablecoin yield concerns and midterm elections could derail the crypto regulatory bill.

JPMorgan execs argued that stablecoin innovation can easily drift into “shadow banking” if yield payments are permitted.

JPMorgan urged Congress to pass clear digital asset legislation with robust safeguards, warning that without robust oversight, crypto innovation could create shadow-banking risks…

JPMorgan stated on Monday that it supports a regulatory framework for cryptocurrencies but warned the rules could carry risks.

JPMorgan urged Congress to pass clear digital asset legislation with robust safeguards, warning that without robust oversight, crypto innovation could create shadow-banking risks…