• JPMorgan Chase publicly backed new US crypto legislation addressing digital asset regulation.
• The bank warned that yield-bearing stablecoins could shift high-risk activity into shadow banking if oversight remains limited.
• This is a shift in JPMorgan Chase’s digital asset stance after earlier opposition to crypto markets.

JPMorgan Chase (NYSE:JPM), trading at $334.07, is weighing into US crypto policy at a time when its stock has delivered a 16.6% return over the past year and very large gains over three years. For investors, the combination of established banking scale with a more engaged view on digital assets helps frame how a major US bank is positioning around crypto related risks and infrastructure.

As Congress considers digital…