The post CLARITY Act Enters Critical June Deadline as Lummis Warns of Chinese Dominance in Crypto Regulation appeared on BitcoinEthereumNews.com.
TLDR Galaxy Digital’s Mike Novogratz declares June the final opportunity for the CLARITY Act, stating it’s a “now or never” moment Senator Cynthia Lummis cautions that failing to pass crypto legislation now could delay action until 2030 JPMorgan’s Jamie Dimon confirms banking sector will aggressively oppose the current bill due to deposit interest provisions and AML standards Following Treasury Secretary Scott Bessent’s congressional appeal, Polymarket betting odds rose to 60% for passage A crowded Senate schedule including reconciliation debates, FISA matters, and housing legislation threatens the bill’s timeline A pivotal cryptocurrency market structure bill known as the CLARITY Act is approaching what may be its last chance for passage in this congressional session. Political leaders, crypto executives, and administration officials are mou
The post CLARITY Act Faces Banking Opposition as Stablecoin Debate Intensifies appeared on BitcoinEthereumNews.com.
Key Insights JPMorgan CEO Jamie Dimon criticized stablecoin provisions in the latest CLARITY Act draft. Banks continue arguing that crypto firms should face the same standards as deposit-taking institutions. Additional lobbying efforts could slow the bill’s path through Congress. The CLARITY Act faces renewed pressure from the banking sector as lawmakers continue debating a federal framework for digital assets. The latest opposition came from JPMorgan Chase CEO Jamie Dimon, who criticized provisions related to stablecoins and argued that crypto companies offering bank-like services should operate under comparable regulatory requirements. Banks Continue Challenging Stablecoin Rules Banking industry concerns remain centered on stablecoins and yield-bearing products. According to Dimon, firms that accept customer funds or offer products that resemble traditional deposits sho
The post Senator Lummis Warns China Will Overtake the US in Crypto if CLARITY Bill Stalls appeared on BitcoinEthereumNews.com.
The United States will lose its leadership position in crypto to other countries, including China, if US lawmakers fail to pass the Digital Asset Market Clarity Act (CLARITY), a crypto market structure bill, according to Wyoming Senator Cynthia Lummis. Passing a comprehensive crypto regulatory framework would “ensure” that other countries “do not write the rules of the next financial era,” Lummis said. She added in a separate X post: “America built the dollar-dominated financial system that has anchored global stability for a century. The Clarity Act ensures we build the next one. The time to act is now, before Beijing decides it will.” In May, the Senate Banking Committee voted to advance the CLARITY Act after the legislation had stalled for months, reviving crypto industry hopes that the bill might be codified into law in 2026. Source: Senator Cynthia Lummis
The post JPMorgan CEO Jamie Dimon Criticizes Coinbase, Opposes CLARITY Act appeared on BitcoinEthereumNews.com.
Rongchai Wang
May 29, 2026 23:02
JPMorgan’s CEO Jamie Dimon criticizes Coinbase and vows banks will oppose the CLARITY Act, a landmark crypto market-structure bill advancing in Congress.
JPMorgan CEO Jamie Dimon has made it clear that the banking industry will continue to oppose the Digital Asset Market Clarity Act (CLARITY), a landmark crypto market-structure bill currently advancing in Congress. Speaking to Fox Business on May 29, Dimon specifically criticized crypto exchange Coinbase and its CEO, Brian Armstrong, for their lobbying efforts in favor of the legislation. Dimon argued that the latest version of the CLARITY Act gives crypto firms unfair advantages over traditional banks. According to him, the bill allows companies to pay interest on deposits and stablecoin balances without being subject to the same Anti-Money Laundering (AML), sanctions, and c
Stablecoin supply hits $322B; USDT+USDC hold ~83% as the CLARITY Act advances in the U.S. Senate. Liquidity, exchange pairing, and custody models may shift.
The post Lummis Warns China Could Eclipse US on CLARITY Stall as $1B Iran Crypto Seized, Gravity Bridge Loses $5.4M appeared on BitcoinEthereumNews.com.
Crypto News Wyoming Senator Cynthia Lummis has issued a stark warning that the United States risks ceding global leadership in digital assets to China and other rivals if Congress fails to enact the Digital Asset Market Clarity Act before the legislative window closes. Lummis argued that a comprehensive market structure framework is essential to ensure foreign jurisdictions do not dictate the rules of the next financial era, drawing a direct line from the dollar’s century of dominance to the coming era of tokenized finance. The Senate Banking Committee advanced the legislation in May after months of delay, yet ratification before the midterm cycle remains uncertain as competing interests inside Washington continue to pressure the text. JPMorgan chief executive Jamie Dimon publicly committed the banking lobby to opposing the current dra
Prediction markets put the odds of the Digital Asset Market Clarity Act becoming law this year at 59%, down from a high of 68% following a Senate committee vote earlier this month. That slide reflects growing uncertainty around a bill the crypto industry had hoped would clear Congress before year’s end. Related Reading: Corporate Ethereum […]
The Senate Banking Committee voted to advance the CLARITY Act in May, but it must still pass both chambers of Congress before heading to the president's desk.
Senator Cynthia Lummis said Congress may not get another real chance to pass digital asset legislation until 2030 if the CLARITY Act fails. Lummis, in a post on X, said Congress faces a narrow window to move the Digital Asset…
