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CryptoMedium•29 June 2026•
1 min read

JPMorgan Backs US Crypto Bill, Warns of Shadow Banking Risks

Key Facts

1JPMorgan urged Congress to pass clear digital asset legislation with robust safeguards, warning that without robust oversight, crypto innovation could create shadow-banking risks and undermine financial stability.

In a sign of Wall Street's growing engagement with crypto regulation, JPMorgan Chase (JPM) urged Congress to pass clear digital-asset legislation with robust safeguards, warning that unregulated innovation could create shadow-banking risks and undermine financial stability, according to reports.

The call comes as the Senate eyes an August deadline for advancing the bill, aiming to establish a comprehensive regulatory framework. JPM stock closed at $330.75 on June 29, 2026. Peer banks traded at $57.88 (Bank of America), $141.76 (Citigroup), and $83.87 (Wells Fargo) in their latest sessions.

Investors are watching legislative developments closely, as regulatory clarity could boost confidence in digital assets. At current levels, JPM sits above its session low of $327.23, and further price movement is possible as details of the proposed bill emerge in the coming weeks.