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AI & Enterprise

JPMorgan blocks account access by external AI agents like Meta\'s Muse, Instinct

JPMorgan is blocking external AI agents such as Meta\'s Muse and Instinct from accessing customer accounts, The Information reported, citing CNBC. Chief Executive Jamie Dimon said on a third-quarter earnings conference call the bank would not let any outside agent into the company because it was too risky for customers and JPMorgan. CFO Jeremy Barnum said the bank was blocking access to protect customers and the company.

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.

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