JPMorgan CEO Warns: Stablecoin Could ‘Blow Up’ If It Offers Deposit-Like Interest

BlockBeats News, May 31st - JPMorgan Chase CEO Jamie Dimon issued a warning regarding the U.S. crypto market structure bill, the "CLARITY Act," cautioning that if stablecoin issuers are allowed to offer users returns in a manner similar to bank deposit interest, the related model could eventually "blow up." Dimon stated that the bill allows crypto companies to offer users returns similar to deposit interest through stablecoin accounts in the absence of proper regulatory protections, a setup that the banking sector would not accept. He said, "I'm not worried about stablecoins themselves, but if this were to happen, I wouldn't be involved, and it will eventually blow up."

The "CLARITY Act" aims to clarify the regulatory framework for the U.S. crypto industry and delineate regulatory agency responsibilities. Earlier, the Director of the U.S. Digital Asset Advisory Committee, Patrick Witt, stated that the Trump administration plans to push the bill through by July 4th. However, according to Polymarket data, the probability of the "CLARITY Act" passing within 2026 has dropped from almost 70% to slightly above 50%.