JP Morgan Chase CEO Jamie Dimon believes stablecoins should be properly regulated. He spoke at a parliamentary hearing on Wednesday.
Representative Josh Gottheimer (DN.J.) asks Dimon what makes him seem less interested in Are there cryptocurrencies and Dimon worried that other countries will dominate the digital asset space if the US? No action was taken, and the New Jersey representative also referred to his own bill. This will determine the qualifying cryptocurrency. and create consumer and investor protection
“There would be nothing wrong with stablecoins if they were like money market funds – properly regulated,” Dimon said.
Dimon’s comments came a day after it got there.news came outThat lawmakers have drafted a new stablecoin law that would temporarily ban coins for payment if they are not backed by external assets. including other provisions
Dimon said, “It’s the equivalent of money market funds. You should look at it the same way in terms of data disclosure, backups, and so much more.”
Dimon also points to the bank’s JPMorgan coin as an example. “It’s a dollar deposit. that can be moved in the same way that it can be moved cryptocurrencies and have a fixed value And the cost is very low,” Dimon said.
Dimon also said coins like bitcoin are “dangerous” and decentralized like Ponzi.
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