JPMorgan CEO: If stablecoins offer deposit interest models, they may explode

JPMorgan CEO Jamie Damon warns that the CLARITY Act, which allows stablecoin issuers to offer a revenue model similar to bank deposit interest, could ultimately explode. He stated that the banking industry would not accept this arrangement and stated that he would not participate in it. The CLARITY Act aims to clarify the regulatory framework for the US cryptocurrency industry, and the Trump administration plans to push for its passage by July 4th. Polymarket data shows that the probability of the bill passing within 2026 has dropped from nearly 70% to slightly over 50%.