The Clarity Act, considered one of the most important cryptocurrency laws in the US, has been stalled recently. This is due to a disagreement between the cryptocurrency sector and the banking sector regarding stablecoin interest rates.
The banking sector supports not paying interest on cryptocurrencies or stablecoins because it fears that their raison d’être will disappear.
JPMorgan CEO Jamie Dimon has also made new statements on this matter.
Speaking to CNBC, Jamie Dimon made a clear statement on stablecoin rewards, reiterating that they should not be given.
Repeating his call for regulatory equality, Dimon argued that any firm paying interest-like returns on stablecoins is functionally a bank and should be treated as such.
Dimon’s view was clear and unambiguous:
“If a company holds customer balances and pays returns on those balances, that’s a banking function. It’s not a payments company. It’s not a fintech company.”
Therefore, it should be subject to the same rules as banks. If it wants to have the same customer and financial activity access as banks, it must also bear the same regulatory burden.
We are in favor of competition. However, it needs to be fair and balanced.”
JPMorgan analysts, regardless of Dimon’s public statements, predict that the CLARITY Act will pass in mid-2026. They also note that this could be a significant catalyst for cryptocurrencies in the second half of 2026.*This is not investment advice.