Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
HomeAll NewsMost read newsBusiness Leaders Biography
Birthday : 03/13/1956
Public asset : 1,443,263,289 USD
Linked companies : JPMorgan Chase & Co.
Biography : Mr. James Dimon is a Chairman & Chief Executive Officer at JPMorgan Chase Bank, NA and JPMorgan Chas

JPMorgan's Dimon blasts bitcoin as 'worthless', due for regulation

10/11/2021 | 09:02pm EST
Illustration of Bitcoin

NEW YORK (Reuters) - Jamie Dimon, JPMorgan Chase & Co chief executive, said on Monday at a conference that cryptocurrencies will be regulated by governments and that he personally thinks bitcoin is "worthless."

"No matter what anyone thinks about it, government is going to regulate it. They are going to regulate it for (anti-money laundering) purposes, for (Bank Secrecy Act) purposes, for tax," Dimon said, referring to banking regulations in a conversation held virtually by the Institute of International Finance.

Dimon, head of the largest U.S. bank, has been a vocal critic of the digital currency, once calling it a fraud and then later saying he regretted the statement.

This summer, JPMorgan gave wealth management clients access to cryptocurrency funds, meaning the bank's financial advisers can accept buy and sell orders from clients for five cryptocurrency products.

Stating that his views are different from those of the bank and its board, Dimon said he remains skeptical.

"I personally think that bitcoin is worthless," Dimon said. "I don't think you should smoke cigarettes either."

"Our clients are adults. They disagree. If they want to have access to buy or sell bitcoin - we can't custody it - but we can give them legitimate, as clean as possible access."

Bitcoin trading showed no immediate reaction to Dimon's comments. The cryptocurrency was last up 5% for the day at $57,304.

(Reporting by Elizabeth Dilts Marshall and David Henry; Editing by Steve Orlofsky)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN (BTC/EUR) -0.25% 47973.9414 Real-time Quote.101.13%
JPMORGAN CHASE & CO. -3.01% 161.93 Delayed Quote.31.39%