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🇺🇸US banks, crypto firms, and regulators clash over the future of digit…
🇺🇸US banks, crypto firms, and regulators clash over the future of digital assets 🔵On May 29, JPMorgan CEO Jamie Dimon told Fox Business that banks will continue to “fight” the current version of the CLARITY Act, arguing that it could allow crypto companies to offer yield-bearing products without bank-equivalent AML requirements. ↳ Dimon stated that if crypto companies want to offer interest or yield on customer balances, they should apply for banking charters, signaling that the banking lobby and limited bipartisan support may still complicate the bill's path to becoming law. 🔵Separately, the SEC’s draft Strategic Plan for 2026–2030, released on June 2, made digital assets and distributed ledger technologies a formal strategic priority, with a stated objective to create a “firm regulatory foundation” for the sector. ↳ The plan focuses on clearer rules for tokenization, custody, trading, staking, and on-chain market infrastructure, while also addressing the long-standing division of responsibilities between the SEC and CFTC. 💭 Inteliumlaw opinion: US crypto regulation is moving toward a more structured framework, but the final shape of that framework will be influenced by a serious policy conflict between traditional financial institutions and digital asset businesses. In fact, crypto exchanges and other stakeholders with US exposure should not rely on the assumption that CLARITY will pass unchanged; instead, they should take into account possible SEC, CFTC, and banking-style obligations and be ready to prepare compliant alternatives that can withstand higher standards. 🗂️ Ready-Made Solutions | 👩💻Tailored Legal Solution
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