Ripple CEO Takes Aim at JPMorgan's Jamie Dimon Over Clarity Act Crypto Bill Criticism
Ripple CEO Brad Garlinghouse said JPMorgan CEO Jamie Dimon is misrepresenting the Clarity Act to protect banking interests. Garlinghouse argued Dimon’s claim that the bill would weaken compliance and enable wrongdoing is false, and that JPMorgan wants to preserve its profitable status quo and block stronger crypto competition. The main dispute is a provision that would let exchanges offer stablecoin yields, which banks strongly oppose and Coinbase has pushed to keep. Dimon previously attacked Coinbase CEO Brian Armstrong over his lobbying for the bill and dismissed him harshly. Garlinghouse said Armstrong speaks for Coinbase, but the broader crypto industry wants regulatory clarity. The bill has cleared a Senate committee and now heads to the Senate floor, though prediction markets still see its passage this year as uncertain.
