<p>数字资产总统顾问委员会的执行董事 Patrick Witt 对摩根大通首席执行官 Jamie Dimon 最近关于稳定币收益的评论发表了声明。</p>
<p>本周早些时候，Dimon 在接受 CNBC 采访时表示，支付稳定币收益的平台应该像银行一样受到监管，认为 “持有余额并支付利息” 构成了银行机构。</p>
<p>Dimon 强调了公平竞争环境的必要性，建议银行面临严格的要求，包括 FDIC 保险、反洗钱规则和资本标准，而提供类似利息奖励的稳定币发行者也应该面临类似的监管。</p>
<p>对此，Witt 在 X 上写道，Dimon 的观点误解了问题，声称首席执行官的论点故意不准确。</p>
<p>Witt 表示：“这里的欺骗在于，支付余额的收益本身并不需要类似银行的监管，而是出借或再质押构成余额的美元。” 他补充道：“GENIUS 法案明确禁止稳定币发行者这样做。”</p>
<p>Witt 补充说，稳定币余额不应被视为等同于银行存款。</p>
<p>这一问题是通过更广泛的加密市场结构立法（如 CLARITY 法案）延迟的核心原因，尽管 GENIUS 法案在 2025 年 7 月为支付稳定币建立了联邦框架，但银行与加密公司之间关于稳定币奖励的谈判仍然存在争议。</p>
<p>银行强烈表达了担忧，认为允许稳定币收益可能会从传统银行中吸引大量存款。另一方面，加密倡导者则认为，适当监管的稳定币为消费者提供了多样性和银行的产品机会。</p>
<p>与此同时，摩根大通首席执行官提出了一种潜在的折衷方案，允许对交易而非持有给予奖励。这种选项也出现在参议院银行委员会的市场结构法案草案中，导致 Coinbase 撤回对该立法的支持。</p>
<p>最近几周，白宫一直在与加密和银行高管举行闭门会议，以就此事进行谈判。尽管与会者形容会议富有成效，但尚未达成任何妥协。</p>
<p>免责声明：The Block 是一个独立的媒体机构，提供新闻、研究和数据。截至 2023 年 11 月，Foresight Ventures 是 The Block 的主要投资者。Foresight Ventures 还投资于其他加密领域的公司。加密交易所 Bitget 是 Foresight Ventures 的主要有限合伙人。The Block 继续独立运营，提供关于加密行业的客观、重要和及时的信息。以下是我们当前的财务披露。</p>
<p>© 2026 The Block。保留所有权利。本文仅供信息参考，不构成法律、税务、投资、金融或其他建议。</p>

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<p>Patrick Witt，数字资产总统顾问委员会的执行董事，反驳了摩根大通首席执行官杰米·戴蒙关于稳定币收益的评论。戴蒙认为，支付收益的平台应该像银行一样受到监管，强调需要一个公平的竞争环境。Witt 不同意这一观点，表示问题在于资金的再抵押，而不是收益本身。他强调，稳定币余额并不等同于银行存款。加密货币和银行高管之间的持续谈判尚未在这一争议问题上达成妥协</p>

<p>Patrick Witt, the executive director of the President’s Council of Advisors for Digital Assets, made a statement in response to JPMorgan CEO Jamie Dimon's recent comment on stablecoin yields.</p>
<div class="lb-trans"><p>数字资产总统顾问委员会的执行董事 Patrick Witt 对摩根大通首席执行官 Jamie Dimon 最近关于稳定币收益的评论发表了声明。</p>
</div><p>Earlier this week, Dimon said in an interview with CNBC that platforms that pay yield on stablecoins should be regulated like banks, arguing that &#34;holding balances and paying interest&#34; constitutes a banking institution.</p>
<div class="lb-trans"><p>本周早些时候，Dimon 在接受 CNBC 采访时表示，支付稳定币收益的平台应该像银行一样受到监管，认为 “持有余额并支付利息” 构成了银行机构。</p>
</div><p>Dimon highlighted the need for a level playing field, suggesting that banks face stringent requirements, including FDIC insurance, anti-money laundering rules, and capital standards, and that stablecoin issuers offering similar interest-like rewards should face a similar level of oversight.</p>
<div class="lb-trans"><p>Dimon 强调了公平竞争环境的必要性，建议银行面临严格的要求，包括 FDIC 保险、反洗钱规则和资本标准，而提供类似利息奖励的稳定币发行者也应该面临类似的监管。</p>
</div><p>In response, Witt wrote on X that Dimon's view misrepresents the issue, claiming that the CEO's argument is deliberately inaccurate.</p>
<div class="lb-trans"><p>对此，Witt 在 X 上写道，Dimon 的观点误解了问题，声称首席执行官的论点故意不准确。</p>
</div><p>&#34;The deceit here is that it is not the paying of yield on a balance per se that necessitates bank-like regulations, but rather the lending out or rehypothecation of the dollars that make up the underlying balance,&#34; Witt said. &#34;The GENIUS Act explicitly forbids stablecoin issuers from doing the latter.&#34;</p>
<div class="lb-trans"><p>Witt 表示：“这里的欺骗在于，支付余额的收益本身并不需要类似银行的监管，而是出借或再质押构成余额的美元。” 他补充道：“GENIUS 法案明确禁止稳定币发行者这样做。”</p>
</div><p>Witt added that stablecoin balances should not be viewed as equivalent to bank deposits.</p>
<div class="lb-trans"><p>Witt 补充说，稳定币余额不应被视为等同于银行存款。</p>
</div><p>This issue was central to the delay in passing broader crypto market structure legislation, such as the CLARITY Act, where negotiations between banks and crypto firms over stablecoin rewards have remained contentious even after the GENIUS Act established a federal framework for payment stablecoins in July 2025.</p>
<div class="lb-trans"><p>这一问题是通过更广泛的加密市场结构立法（如 CLARITY 法案）延迟的核心原因，尽管 GENIUS 法案在 2025 年 7 月为支付稳定币建立了联邦框架，但银行与加密公司之间关于稳定币奖励的谈判仍然存在争议。</p>
</div><p>Banks have strongly expressed concerns that allowing stablecoin yields could draw a significant chunk of deposits away from traditional banks. On the other hand, crypto advocates argue that properly regulated stablecoins offer consumers diversity and product opportunities for banks.</p>
<div class="lb-trans"><p>银行强烈表达了担忧，认为允许稳定币收益可能会从传统银行中吸引大量存款。另一方面，加密倡导者则认为，适当监管的稳定币为消费者提供了多样性和银行的产品机会。</p>
</div><p>Meanwhile, the JPMorgan CEO suggested a potential compromise, which allows rewards on transactions rather than holdings. Such an option also appeared in the Senate Banking Committee's draft of the market structure bill, which resulted in Coinbase withdrawing its support from the legislation.</p>
<div class="lb-trans"><p>与此同时，摩根大通首席执行官提出了一种潜在的折衷方案，允许对交易而非持有给予奖励。这种选项也出现在参议院银行委员会的市场结构法案草案中，导致 Coinbase 撤回对该立法的支持。</p>
</div><p>In recent weeks, the White House has been hosting closed-door meetings with crypto and banking executives to negotiate on the matter. While participants described the meeting as productive, no compromise has yet been reached.</p>
<div class="lb-trans"><p>最近几周，白宫一直在与加密和银行高管举行闭门会议，以就此事进行谈判。尽管与会者形容会议富有成效，但尚未达成任何妥协。</p>
</div><p>Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.</p>
<div class="lb-trans"><p>免责声明：The Block 是一个独立的媒体机构，提供新闻、研究和数据。截至 2023 年 11 月，Foresight Ventures 是 The Block 的主要投资者。Foresight Ventures 还投资于其他加密领域的公司。加密交易所 Bitget 是 Foresight Ventures 的主要有限合伙人。The Block 继续独立运营，提供关于加密行业的客观、重要和及时的信息。以下是我们当前的财务披露。</p>
</div><p>© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p>
<div class="lb-trans"><p>© 2026 The Block。保留所有权利。本文仅供信息参考，不构成法律、税务、投资、金融或其他建议。</p>
</div>

White House crypto advisor counters Jamie Dimon’s stablecoin yield logic

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白宫的加密货币顾问反驳了杰米·戴蒙关于稳定币收益的逻辑