JPMorgan CEO Jamie Dimon Says He Would Shut Down Crypto If He Had Power

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JPMorgan CEO Jamie Dimon Says He Would Shut Down Crypto If He Had Power
The CEO of JPMorgan Jamie Dimon told the United States Congress that he would shut down the crypto sector if he had the power to do so. According to him, cryptocurrency is mainly used by criminals for illicit purposes.
Dimon was responding to Massachusetts Senator Elizabeth Warren, who said “proceeds of crypto crime” funded North Korea’s missile program. The Senator also said crypto has also helped to fund Hamas. In response, Jamie Dimon told Congress that he has “always been deeply opposed to crypto, bitcoin, etc.” He added that its “only true use case for it is criminals, drug traffickers … money laundering, tax avoidance.” He then stated:
“If I was the government, I’d close it down.”
Dimon Speaks Alongside Wall Street CEOs on Crypto Regulations
Jamie Dimon’s testimony was part of a routine hearing before the Senate Banking Committee. The JPMorgan CEO joined other chiefs speaki

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