CEO of JPMorgan issued criticism against cryptocurrencies

Jamie Dimon released harsh criticism against Bitcoin and other cryptocurrencies this week

The leader of JPMorgan Chase, Jamie Dimon, voiced strong criticism against bitcoin and other cryptocurrencies during his remarks Wednesday at the U.S. Capitol, suggesting the need for their ban, CNBC reports.

“I have always been strongly opposed to cryptocurrencies, Bitcoin, and so on,” said the CEO of the leading US asset bank, answering questions from Democratic Senator Elizabeth Warren during the Senate Banking Committee session.

“The only real use it can be given to criminals, drug traffickers… money laundering, tax evasion. If I were the government, I would close it down,” Dimon added.

These statements represent Dimon’s latest offensive against cryptocurrencies, despite his bank’s strong involvement in blockchain technology, the engine of this industry valued at 1.6 trillion dollars.

On previous occasions, Dimon had described bitcoin as “an exaggerated fraud”, a comment he later retracted, as well as likening it to a “pet stone”.

During questioning by Warren and other bank executives at a routine hearing, it was agreed that cryptocurrency companies should be subject to the same anti-money laundering regulations as conventional financial institutions.

K. Tovar

Source: Bancaynegocios

(Reference image source: Precious Madubuike, Unsplash)

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