JPMorgan Chase CEO Jamie Dimon Declares War on Clarity Act, Calls Coinbase’s Armstrong ‘Full of Sh*t’

JPMorgan Chase CEO Jamie Dimon has drawn a battle line in Washington: the Clarity Act, as written, is dead on arrival — and Coinbase CEO Brian Armstrong is the enemy driving it.

JPMorgan Chase CEO Jamie Dimon Declares War on Clarity Act, Calls Coinbase’s Armstrong ‘Full of Sh*t’. JPMorgan Chase CEO Jamie Dimon has drawn a battle line in Washington: the Clarity Act, as written, is dead on arrival — and Coinbase CEO Brian Armstrong is the enemy driving it. In a Fox Business interview on Friday, Dimon unloaded on the pending crypto market structure legislation, calling it a threat to the financial system and a gift to an industry that wants the privileges of banking without the responsibilities. “It allows cryptocurrency firms to effectively pay interest on deposits — stablecoins or something like that — without the protection that they should have,” Dimon said. “It has almost no legal protections.” His core argument: if a crypto platform walks like a bank and talks like a bank, it needs to be regulated like one. Th...