JPMorgan CEO calls for a fair regulatory framework for stablecoin rewards.

CoinFeed reported on March 3rd, citing Cryptobriefing, that JPMorgan Chase CEO Jamie Dimon stated on CNBC that he welcomes competition and advancements in blockchain technology, but emphasized that stablecoin rewards should operate within a fair regulatory framework. Dimon pointed out that banks view stablecoin rewards as equivalent to paying interest on deposits, and any company holding customer funds and providing interest is effectively acting as a bank and should be subject to the same regulatory standards. Dimon proposed a compromise: rewards could be paid on transactions rather than balances. If a company holds balances and pays interest, that is banking business and should be subject to banking regulations.