JPMorgan CEO Advocates for Equal Regulatory Standards for Stablecoins

JPMorgan CEO Jamie Dimon recently expressed support for the development of blockchain technology during an appearance on CNBC. According to ChainCatcher, Dimon emphasized that stablecoins should adhere to the same regulatory standards as traditional banking products. He argued that any company holding customer funds and paying interest is essentially engaging in banking activities and should be subject to appropriate regulation. Dimon proposed offering rewards on transactions rather than balances as a compromise. Meanwhile, the Senate Agriculture Committee has approved parts of a market structure bill aimed at clarifying the jurisdiction of the SEC and CFTC, which includes requirements for customer fund segregation and reserve proof.