Dimon slams Coinbase chief as banks unite against CLARITY Act

Dimon vowed to fight the passage of the crypto market structure bill until the bitter end.

The CFTC issued notices affecting platforms seeking to offer cryptocurrency perpetual futures contracts, including a no-action position for Coinbase and approval for Kalshi.

The clash highlights the ongoing tension between traditional banking and emerging digital finance, potentially reshaping regulatory landscapes. The post JPMorgan CEO Jamie Dimon criticizes Coinbase’s Brian Armstrong over Clarity Act lobbying appeared first on Crypto Briefing.

As lawmakers advance the crypto bill closer to completion, JPMorgan CEO Jamie Dimon attacked Coinbase CEO Brian Armstrong and criticized the CLARITY Act on Friday. Dimon Predicts Clash Over CLARITY Act Speaking at the Reagan National Economic Forum, Dimon said banks “will not accept” the CLARITY Act in its current form. He also suggested that efforts by crypto proponents are unlikely to produce a broad consensus with traditional financial institutions.  “It will be fought. No one’s gonna bow down to this guy, or that company,” Dimon said, referring to the act and Armstrong. Dimon continued: “He’s the only one, and he’s spending hundreds of millions of dollars in Washington on this thing… He’s full of shit.” Related Reading: Treasury Secretary Urges CLARITY Act Passage, Saying The US Should Be Home For Crypto As reported by NewsBTC on Thursday, the bill advanced in the Senate earlier this month. The Senate Banking Committee approved its portion, building on earlier progress from January

Coinbase has opened a regulated route for U.S. institutions to trade global crypto derivatives through its futures commission merchant. Coinbase said on May 29 that Coinbase Financial Markets now gives eligible U.S. clients access to crypto derivatives markets, starting with…

Coinbase can offer U.S. customers access to offshore crypto perpetual futures, a risky form of leveraged crypto trading, the CFTC said Friday.

The clash highlights the ongoing tension between traditional banking and emerging digital finance, potentially reshaping regulatory landscapes. The post JPMorgan CEO Jamie Dimon criticizes Coinbase’s Brian Armstrong over Clarity Act appeared first on Crypto Briefing.

JPMorgan's Jamie Dimon said banks will oppose the Clarity Act over stablecoin rewards and weak protections, enforcing another headwind for the bill.