This is just ludicrous.
Jamie Dimon said on CNBC today that it wasn’t fair for stablecoin issuers and exchanges to offer yield because they don’t have to comply with ANY regulations like reserve requirements, AML compliance, audits etc.
He’s fully aware that all of these requirements (and more) were enacted in the GENIUS Act.
He’s also aware that he and his pals running the Big Banks are the ones standing in the way of the Clarity Act (and all the agency rulemaking that would come along with it) which would comprehensively regulate the crypto industry.
He’s literally standing in the way of regulation while complaining that there’s no regulation.
And he got away with this nonsense unchallenged on @CNBC.
Stablecoin rules in the UK are being finalized, and are at risk of preventing the UK from being globally competitive in the digital economy.
For example, the Bank of England is proposing a cap on stablecoin holdings for individuals and businesses.
The UK has a long history of being a financial hub. Embracing and encouraging innovation, especially when other countries are moving fast here, is important for maintaining that. The current direction of the rules does the opposite, and will act as an innovation blocker.
If you're from the UK you can sign the petition by @StandWCrypto_UK to set out a pro-innovation strategy for blockchain and stablecoins. Link below.
The SEC just handed crypto its most important win of the year so far, but nobody’s really talking about it.
Here’s what actually happened today, and what comes next.
Market structure is making great progress, and I believe we're going to reach a win-win-win outcome.
A win for the crypto industry.
A win for the banks.
And, most importantly, a win for the American consumer.