White House official Patrick Witt counters Jamie Dimon on stablecoin regulation

White House official Patrick Witt has countered Jamie Dimon’s assertion that stablecoins should be treated as deposits, asserting that the GENIUS Act already prohibits lending practices that would necessitate bank-like regulation. This discussion takes place against the backdrop of Dimon’s ongoing caution regarding digital assets, where he warns about systemic risks associated with unregulated stablecoin activities. Meanwhile, the White House continues to advocate for tailored stablecoin regulations that support innovation while avoiding overly stringent banking laws.

Source

You might be interested in …

Crypto Desk February 8, 2026

Binance faces wash trading, fund mishandling allegations in SEC lawsuit

The U.S. Securities and Exchange Commission (SEC) has been pursuing allegations against Binance and its CEO Changpeng Zhao, accusing them of engaging in securities violations through entities such as Merit Peak Limited and Sigma Chain. […]

Bitcoin Desk - The Bitcoin Street Journal cyberpunk, trending on artstation in the style of cyberpunk

Crypto Desk February 12, 2026

SEC Chair Paul Atkins calls for better coordination with CFTC

SEC Commissioner Paul Atkins emphasized the importance of coordination between the SEC and CFTC to ensure regulatory efficiency and eliminate gaps in oversight. This collaboration is particularly relevant as both agencies, under recent Trump administration […]

Extreme fear returns as crypto majors slide despite Bitcoin holding above $67K

Crypto Desk February 21, 2026

Tether discontinues offshore yuan stablecoin CNH₮ support

Tether has announced the immediate discontinuation of support for its offshore yuan stablecoin, CNH₮, due to evolving market conditions and limited demand, stating that its scale no longer justifies ongoing operational support. Following this announcement, […]