Pristine Collateral Time.... JPM Jumps In (Patreon)

GENIUS Act makes an immediate impact as JP Morgan looks to allow Bitcoin as collateral for lending as early as next year. The move follows regulatory clarity from also the Federal Reserve and Office of the Comptroller of the Currency, which removed barriers for banks offering Bitcoin and crypto services. CEO Jamie Dimon, who once called Bitcoin a ‘fraud’ in 2017, has since been forced to adopt a more pragmatic stance. With Bank of America and Citi cooking similar schemes, tradfi’s biggest vaults are quietly opening to actual sound money.