{"id":45295,"date":"2026-05-29T20:00:51","date_gmt":"2026-05-29T20:00:51","guid":{"rendered":"https:\/\/cryptd.in\/jpmorgan-ceo-goes-nuclear-on-clarity-act-calling-coinbases-armstrong-full-of-s-t\/"},"modified":"2026-05-29T20:00:51","modified_gmt":"2026-05-29T20:00:51","slug":"jpmorgan-ceo-goes-nuclear-on-clarity-act-calling-coinbases-armstrong-full-of-s-t","status":"publish","type":"post","link":"https:\/\/cryptd.in\/bg\/jpmorgan-ceo-goes-nuclear-on-clarity-act-calling-coinbases-armstrong-full-of-s-t\/","title":{"rendered":"JPMorgan CEO Goes Nuclear On CLARITY Act, Calling Coinbase\u2019s Armstrong \u2018Full Of S-t\u2019"},"content":{"rendered":"<p>As lawmakers advance the crypto bill closer to completion, JPMorgan CEO Jamie Dimon attacked Coinbase CEO Brian Armstrong and criticized the CLARITY Act on Friday.<\/p>\n<h2>Dimon Predicts Clash Over CLARITY Act<\/h2>\n<p>Speaking at the Reagan National Economic Forum, Dimon <a href=\"https:\/\/www.politico.com\/news\/2026\/05\/29\/dimon-jpmorgan-crypto-banks-coinbase-armstrong-00942998\" target=\"_blank\" rel=\"noopener nofollow\">said <\/a>banks \u201cwill not accept\u201d the CLARITY Act in its current form. He also suggested that efforts by crypto proponents are unlikely to produce a broad consensus with traditional financial institutions.\u00a0<\/p>\n<p>\u201cIt will be fought. No one\u2019s gonna bow down to this guy, or that company,\u201d Dimon said, referring to the act and Armstrong. Dimon continued: \u201cHe\u2019s the only one, and he\u2019s spending hundreds of millions of dollars in Washington on this thing\u2026 He\u2019s full of shit.\u201d<\/p>\n<p>As <a href=\"https:\/\/www.newsbtc.com\/crypto\/treasury-secretary-urges-clarity-act-passage-saying-the-us-should-be-home-for-crypto\/\" target=\"_blank\" rel=\"noopener \">reported <\/a>by NewsBTC on Thursday, the bill advanced in the Senate earlier this month. The Senate Banking Committee approved its portion, building on earlier progress from January, when the Agriculture Committee successfully voted on its version of the legislation.<\/p>\n<p>After a full Senate vote, lawmakers would need to complete the reconciliation steps required to finalize the measure and then secure agreement between the House and the Senate. Only after those steps would the final text move to the president for consideration.<\/p>\n<h2>Yield And Compliance Provisions Concerns<\/h2>\n<p>Dimon argued that the bill contains fundamental problems. He said the legislation would allow banks to earn interest on deposits, stablecoins, or related instruments \u201cwithout the protection they should have,\u201d and he also contended that it fails to address anti-money laundering (AML) and Bank Secrecy Act requirements sufficiently.\u00a0<\/p>\n<p>\u201cIt allows them to effectively pay interest on deposits, stablecoins, or something like that, without the protection they should have. And it does not do anything for AML\/BSA,\u201d Dimon said.<\/p>\n<p>The executive further emphasized that the pushback would not be limited to a single type of institution or one segment of the industry. He said banks of different sizes would oppose the CLARITY Act as currently written, arguing that unity spans both large and smaller players.\u00a0<\/p>\n<p>\u201cThe banks will not accept it that way,\u201d Dimon said. \u201cThe ABA [American Bankers Association], the small banks, the credit unions. It\u2019s not just the big guys.\u201d<\/p>\n<p><img decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/pT9FfAjZ\/\" alt=\"CLARITY Act\" width=\"1814\" height=\"981\" loading=\"lazy\" \/><\/p>\n<p>Featured image from CNBC; chart from TradingView.com <\/p>","protected":false},"excerpt":{"rendered":"<p>As lawmakers advance the crypto bill closer to completion, JPMorgan CEO Jamie Dimon attacked Coinbase CEO Brian Armstrong and criticized the CLARITY Act on Friday. Dimon Predicts Clash Over CLARITY Act Speaking at the Reagan National Economic Forum, Dimon said banks \u201cwill not accept\u201d the CLARITY Act in its current form. He also suggested that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":45297,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-45295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>JPMorgan CEO Goes Nuclear On CLARITY Act, Calling Coinbase\u2019s Armstrong \u2018Full Of S-t\u2019 - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/bg\/jpmorgan-ceo-goes-nuclear-on-clarity-act-calling-coinbases-armstrong-full-of-s-t\/\" \/>\n<meta property=\"og:locale\" content=\"bg_BG\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan CEO Goes Nuclear On CLARITY Act, Calling Coinbase\u2019s Armstrong \u2018Full Of S-t\u2019 - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"As lawmakers advance the crypto bill closer to completion, JPMorgan CEO Jamie Dimon attacked Coinbase CEO Brian Armstrong and criticized the CLARITY Act on Friday. 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