Jamie Dimon vows to fight CLARITY Act stablecoin provisions, criticizes Coinbase CEO and demands bank‑level rules

JPMorgan Chase CEO Jamie Dimon said the bank will “fight” provisions of the federal CLARITY Act that would expand stablecoin activity, arguing stablecoin issuers should face the same liquidity, anti‑money‑laundering and capital requirements imposed on banks. Dimon told reporters that banks will oppose the bill unless lawmakers change provisions he says give crypto firms bank‑like powers without bank‑level safeguards ^{[1] [2]}.

Dimon also singled out Coinbase CEO Brian Armstrong during his remarks as the CLARITY Act moved through congressional consideration, with outlets reporting he criticized Armstrong and the broader crypto industry’s push for stablecoin privileges. Bitcoin Magazine published a report quoting a profane remark attributed to Dimon while other publications focused on his policy objections to the bill’s stablecoin provisions ^{[3] [4]}.

JPMorgan’s public opposition positions the bank as a key industry challenger to the CLARITY Act’s stablecoin provisions as the legislation advances in Congress ^{[1] [2]}.