US to Regulate Crypto, Says JPMorgan Chase CEO

[ad_1]

The United States will begin to regulate cryptocurrencies as unrest over stablecoins and crypto in general grows in Washington, predicted JPMorgan Chase & Co. CEO Jamie Dimon on Monday, October 11.

Blockchain can be real, stablecoins can be real, Dimon said, addressing the Institute of International Finance’s annual membership meeting, according to a Bloomberg News report. It doesn’t matter what anyone in the room thinks about it, or what any libertarian thinks about it, or what anyone thinks about it, governments are going to regulate it.

The CEO reiterated his own take on bitcoin, making sure to differentiate his own opinion and how his bank will handle cryptocurrency.

Personally, I think Bitcoin is worthless, Dimon said. Our customers are adults, they disagree, that’s what the markets do, so if they want access to buy bitcoin from you, we can’t keep it, but we can give them access legitimate and as clean as possible.

Meanwhile, at the forum, Citigroup Inc. chairman John Dugan said it would be appropriate to require banks to have high capital requirements to hold crypto assets.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.

[ad_2]