U.S. Senator Cynthia Lummis told CNBC that JPMorgan CEO Jamie Dimon’s criticism of the CLARITY Act was “completely wrong” and suggested he had not read the bill. Previously, Dimon accused the bill and stablecoins of lacking adequate anti-money laundering and Bank Secrecy Act protections, and criticized Coinbase CEO Brian Armstrong for “talking nonsense.”
Senator Lummis Criticizes Jamie Dimon’s Opposition to the CLARITY Act
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Summary
Senator Cynthia Lummis called Jamie Dimon’s criticism of the CLARITY Act “completely wrong,” telling CNBC that the JPMorgan CEO had not read the bill. Dimon had criticized the crypto proposal and stablecoins for lacking AML safeguards, and also called Coinbase CEO Brian Armstrong “full of crap.” Lummis defended the cryptocurrency framework as a step toward regulatory clarity.
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