Peter Schiff, Chief Economist at Euro Pacific, criticized Jamie Dimon's suggestion that crypto companies offering interest-bearing products should face the same regulatory standards as banks. Schiff argued that such firms differ fundamentally from banks, which benefit from FDIC deposit insurance and engage in high-risk lending under a fractional-reserve system. In contrast, stablecoin issuers do not share these characteristics, making the proposed regulatory alignment unreasonable, according to Schiff.