TechFlow reports that on May 31, according to Forbes, JPMorgan CEO Jamie Dimon stated the U.S. crypto market structure bill—the Clarity Act—permits crypto companies to offer deposit-like interest yields on products such as stablecoins, but without corresponding protections; such arrangements “could ultimately collapse,” and he personally would not participate in them. The report notes ongoing disagreement between banks and crypto firms over whether stablecoin accounts may offer interest-like rewards, and the Clarity Act’s likelihood of passage this year has declined from nearly 70% to just above 50%. Amid this uncertainty, Bitcoin recently fell below $76,000.
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