Stablecoin Yields a ‘Dangerous’ Parallel System: JPMorgan Exec
Stablecoin issuers and third-party platforms that pay interest to stablecoin holders are creating an “undesirable” parallel banking system, says JPMorgan financial chief Jeremy Barnum. Barnum told investors during the bank’s fourth-quarter earnings call on Tuesday that its advocacy to ban all yield payments on stablecoins is “in the spirit of the GENIUS Act legislation,” which...
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