Jamie Dimon vows to fight crypto bill, calls Coinbase CEO ‘full of s–t’
JPMorgan Chase CEO Jamie Dimon joins ‘Mornings with Maria’ in a wide-ranging interview on AI risks, stablecoin regulation, housing affordability and his recent meeting with New York City Mayor Zohran Mamdani.
JPMorgan Chase Chairman and CEO Jamie Dimon issued an unfiltered, aggressive warning against a new crypto-friendly bill moving through Congress while also targeting Coinbase CEO Brian Armstrong’s multimillion-dollar lobbying push.
In a wide-ranging interview with FOX Business’ Maria Bartiromo on Friday, Dimon was asked for his thoughts on the CLARITY Act, which aims to establish clear regulatory guidelines in the U.S. for digital assets and stablecoins.
Dimon then rejected Coinbase’s messaging that its lobbying represents broad consumer interests, promising an all-out industry “fight” on Capitol Hill.
“We’ll fight it. If we lose, we lose and we’ll live,” Dimon said. “But it will be fought… No one’s going to bow down to this guy, OK? Or that company… And he’s spending hundreds of millions of dollars… He’s full of s–t.”
“Just be fair. If he takes deposits like a bank, he should have bank rules. We have social requirements, litigation, legal liquidity requirements, capital requirements, AML requirements, financial reporting requirements, transparency requirements,” he continued. “If he wants to be a bank, be a bank. That’s all it is.”
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the 2026 Reagan National Economic Forum on Friday, May 29, 2026. (Getty Images)
Dimon argued that if crypto platforms want to act like banks and take customer deposits, they must play by the exact same rules.
“And they’re not FDIC-insured. We have requirements to build branches in lower-income neighborhoods… We have like 84 regulators all over us. We’re just saying it should be fair and equal, period. Not that they can’t do what they want to do,” Dimon said. “If you want to buy cryptocurrency, be my guest. You know, I believe it’s a free country, and I defend that right. But we just want it to be fair.”
Coinbase CEO Brian Armstrong joins ‘Mornings with Maria’ to break down Senate crypto legislation, the future of digital finance, and how AI, stablecoins and new products are driving Coinbase’s growth.
When asked if he’s “happy” with the legislative language of the CLARITY Act, Dimon responded: “No, because it allows them to effectively pay interest on deposits, stablecoins or something like that, without the protection that they should have… it has almost no legal protections. So no, the banks will not accept it that way.”
In a statement to Fox News Digital, Coinbase chief policy officer Faryar Shirzsad said, “At the end of the day, we all share the same goal: improving the financial lives of Americans. Millions of Americans believe this includes preserving rewards programs and passing clear rules that protect…
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