Yield-bearing stablecoins pose a risk of a "dangerous" parallel banking system, according to JPMorgan's CFO.
Jeremy Barnum told JPMorgan shareholders that interest-earning stablecoins could create a parallel banking system without the protection of traditional regulations.
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Yield-bearing stablecoins pose a risk of a "dangerous" parallel banking system, according to JPMorgan's CFO.
Jeremy Barnum told JPMorgan shareholders that interest-earning stablecoins could create a parallel banking system without the protection of traditional regulations.