JPMorgan’s Dimon, Banks Push Back as CLARITY Bill Stalls

• Dimon says Digital Asset Market Clarity Act gives crypto firms unfair advantages
• Bipartisan Senate panel advances bill, but prediction markets cut 2026 passage odds

On May 29, 2026 (UTC), Fox Business and Cointelegraph reported that JPMorgan CEO Jamie Dimon is leading the U.S. banking sector’s resistance to the Digital Asset Market Clarity Act (CLARITY), after the Senate Banking Committee advanced the bill in a bipartisan vote. However, prediction markets have lowered the odds of the legislation becoming law by the end of 2026, with continued opposition from major banks cited as a significant roadblock.

Dimon argued that the CLARITY Act would grant crypto firms regulatory exemptions not available to banks, citing provisions related to Anti-Money Laundering (AML) rules and capital reserves. He asserted, “This bill effectively allows crypto companies to avoid the same standards required of banks,” highlighting uneven regulatory treatment as a key concern.

Dimon also singled out Coinbase CEO Brian Armstrong, whom he accused of lobbying aggressively for the bill and shaping what Dimon calls an inadequate regulatory approach. Banking executives maintain that such lobbying has led to gaps in oversight compared to the banking industry.

While the bill’s progress through the Senate committee briefly lifted optimism among some crypto advocates, its broader outlook remains uncertain. Analysts note that the influential banking sector’s continued resistance, coupled with waning prediction market confidence, signals steep hurdles for the CLARITY Act as it moves forward in Congress.