JPMorgan execs draw comparison between yield stablecoins and ‘shadow banking’
Covered by 3 sources · 3 articles
3 outlets - including Crypto-economy, Bitcoinworld and Theblock - are covering this story. JPMorgan executives, led by Umar Farooq and Peter Muriungi, published an official note demanding that yield-bearing stablecoins be banned in the United States. Through this statement, the bank’s digital asset and payment leaders called on C…
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JPMorgan Executives Compare Yield Stablecoins to “Shadow Banking” System
JPMorgan executives, led by Umar Farooq and Peter Muriungi, published an official note demanding that yield-bearing stablecoins be banned in the United States. Through this statement, the bank’s digital asset and payment leaders called on C…
JPMorgan Executives Warn Yield-Bearing Stablecoins Risk Becoming Shadow Banking
BitcoinWorld JPMorgan Executives Warn Yield-Bearing Stablecoins Risk Becoming Shadow Banking Senior executives at JPMorgan have raised concerns that stablecoins offering interest or yield to holders could evolve into a form of shadow bankin…
JPMorgan execs draw comparison between yield stablecoins and ‘shadow banking’
JPMorgan execs argued that stablecoin innovation can easily drift into “shadow banking” if yield payments are permitted.