JPMorgan Says Crypto Regulatory Clarity Matters Only If 'Paired With Durable Safeguards,' Flags Stablecoin Yield Risks
JPMorgan Chase & Co. (NYSE:JPM) stated on Monday that it supports a regulatory framework for cryptocurrencies but warned the rules could carry risks, especially for stablecoins and yield-producing products. In a blog post published by Umar Farooq, global co-head of JPMorgan Payments, and Peter Muriungi, CEO of Digital Assets and Blockchain Solutions, the company said that the U.S. should tread carefully while setting up a framework for digital assets.