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Jamie Dimon proposes shutting down cryptocurrencies

JPMorgan Chase CEO Jamie Dimon, at a meeting with US legislators, spoke about the need to introduce serious restrictions on digital assets. This is reported by The Block.

When asked by Massachusetts Senator Elizabeth Warren about why cryptocurrencies are an attractive tool for criminals, Dimon noted the possibility of circumventing government controls.

“I have always been categorically against cryptocurrencies, bitcoins and so on. If I were the government, I would close them,” he added.

The head of JPMorgan also called for increased government control over stablecoins.

Dimon has always been a vocal opponent of digital assets. In October 2021, he said that Bitcoin was “worth nothing” and noted the unpopularity of his opinion. He later called cryptocurrencies “decentralized Ponzi schemes.”

The government task force included other bank representatives, including the heads of Wells Fargo & Company, Bank of America and Goldman Sachs. They all agreed with Warren’s assertion that cryptocurrencies should follow traditional anti-money laundering (AML) rules.

“When it comes to banking policy, I don’t usually hold hands with the heads of multi-billion dollar banks, but this is a matter of national security,” the legislator emphasized.

In December 2022, she, along with colleague Roger Wayne Marshall, introduced a bill that would tighten AML requirements for the use of digital assets.

Recall that in March 2023, Warren called on the authorities to take action against “fictitious audits” of cryptocurrency companies.

Source: Cryptocurrency

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