Trump Administration Advisor Counters JP Morgan CEO's Stablecoin Regulation Argument

Could this affect legislative deliberations? Patrick Witt, the Executive Director on the Presidential Advisory Council for Digital Assets, criticized JP Morgan CEO Jamie Dimon's stance on stablecoin yields on the 4th. Witt argued that banking regulations, which are based on the lending and rehypothecation of deposits, are unnecessary for stablecoin issuers who are already prohibited from these practices under the 'Genius Act.' The controversy began when...