JPMorgan Backs U.S. Crypto Bill, Warns of Digital Asset Risks

JPMorgan supports efforts by the U.S. Congress to establish a regulatory framework for digital assets. It argues that stablecoins and tokenized deposits offering functions similar to bank deposits should be subject to equally stringent capital, liquidity and risk-management requirements to protect investors and preserve market integrity. The matter does not involve a specific transaction amount.

JPMorgan recently endorsed the crypto legislation but warned that the new regime must close existing loopholes. In particular, it said stablecoins should not be allowed to circumvent interest restrictions through reward programs, while tokenized deposits should not be given scope for regulatory arbitrage. Available information does not specify the bill’s name, the date of JPMorgan’s statement, any amount or the timing of a congressional vote.