[JPMorgan Executives: Yield-Generating Stablecoins Could Easily Evolve into 'Shadow Banks'] According to a report by Jinse Finance, on June 30, two JPMorgan executives stated that if stablecoin innovations are allowed to generate interest and yield, they could easily evolve into 'shadow banks.' The company's Global Co-Head of Payments, Umar Farooq, and CEO of Digital Assets and Blockchain Solutions, Peter Muriungi, issued a statement calling for the United States to establish a comprehensive digital asset framework, though they did not directly reference the 'Clarity Act.' The statement noted that 'tokenization and programmable money' provide critical innovations for global payments and 24/7 instant settlement, but yield-generating stablecoins could drift toward becoming 'shadow banks.' Stablecoins should adhere to 'the same regulatory standards as traditional deposit products.'