according to CryptoBriefing, JPMorgan CEO Jamie Dimon recently stated on CNBC that he supports the development of blockchain technology but emphasized that stablecoin rewards should follow the same regulatory standards as traditional banking products. He believes that any company holding customer funds and paying interest is essentially engaged in banking and should be subject to corresponding regulation.

Dimon suggested that rewards could be offered on transactions rather than balances as a compromise. Currently, the Senate Agriculture Committee has passed parts of the Market Structure Act, which aims to clarify the jurisdiction of the SEC and CFTC, requiring customer fund segregation and reserve proof.