Jamie Dimon Reacts To Coinbase CEO’s Level Playing Field Pitch: ‘If They Want To Be A Bank, So Be It’ But They Should Be Treated As One

Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:JPM), weighed in on the debate surrounding stablecoin rewards on Monday, insisting that any cryptocurrency firm offering should fall under banking regulations.
‘If They Want To Be A Bank, So Be It’
During an interview with CNBC, Dimon responded to a question about his reported disagreements with Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong over the rewards clause in the cryptocurrency market structure bill.
Dimon said rewards are basically just interest, but a workable “compromise” could be paying rewards on transactions and not balances.
“If you are going to be holding balances and paying interest, that’s the bank. You should be regulated by a bank,” he added. “If they want to be a bank, so be it.”
Dimon Wants ‘Level Playing …Full story available on Benzinga.com

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