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JP Morgan CEO Urges US Govt. to Pull the Plug on Bitcoin

Published Dec 07, 2023 15:06 Updated Dec 07, 2023 15:15
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© Reuters. JP Morgan CEO Urges US Govt. to Pull the Plug on Bitcoin
 
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  • Jamie Dimon has said he would shut down Bitcoin if he had the powers.
  • Dimon told lawmakers he has always opposed crypto, Bitcoin, etc.
  • According to Dimon, the true use case for crypto and Bitcoin is for criminal activities.

Jamie Dimon, CEO of JP Morgan Chase, has said he would “close down” Bitcoin if he had the power and authority to do so. On Wednesday, the top American banker told lawmakers that Bitcoin’s true use case is in criminal activities.

During Wednesday’s congressional hearing, Dimon told lawmakers he has always opposed crypto, Bitcoin, etc. He acknowledged and supported Senator Warren’s position, who believes Bitcoin’s only use case is for criminal activities.

According to a video excerpt of Dimon in court, the true use case for crypto and Bitcoin is for criminals, drug trafficking, money laundering, and tax avoidance. He explained that Bitcoin is somewhat anonymous, and users can move money instantaneously without going through systems built over many …

The post JP Morgan CEO Urges US Govt. to Pull the Plug on Bitcoin appeared first on Coin Edition.

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JP Morgan CEO Urges US Govt. to Pull the Plug on Bitcoin
 

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