Crypto
JPMorgan: Paying interest on stablecoins without financial regulation is risky
JPMorgan Chase supports blockchain technology but says stablecoins that pay interest could threaten the traditional financial system. At a fourth-quarter earnings presentation, CFO Jeremy Barnum warned that interest-bearing stablecoins could create an unregulated parallel banking system and said the bank supports the direction of U.S. congressional stablecoin legislation. JPMorgan said stablecoins acting like deposits without financial regulation could be risky, a view aligned with U.S. banking industry concerns.
