As Congress moves closer to establishing a regulatory framework for digital assets, JPMorgan executives are urging lawmakers not to confuse regulatory clarity with financial stability. In a policy post published Monday, senior executives at the bank warned that yield-bearing stablecoins offering bank-like returns without comparable capital, liquidity and consumer-protection requirements could create "shadow banking" risks, adding a new voice to the debate ahead of the Senate's expected consideration of the CLARITY Act in July. The post, written by Umar Farooq, the Global Co-Head of J.P. Morgan Payments, and Peter ... (full story)