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19 April 2021

Why JP Morgan’s CEO calls Bitcoin regulation a “serious issue”

Why JP Morgan’s CEO calls Bitcoin regulation a “serious issue”

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Morgan Chairman and CEO Jamie Dimon addressed the status of regulations towards Bitcoin and cryptocurrencies in the United States.

Dimon seems to have changed his stance, as have other executives in the banking sector, after giving statements against Bitcoin and cryptocurrencies.

In that sense, Dimon points out 3 “serious emerging issues”: shadow banking, financial information management, and the legal framework on cryptocurrencies.

Morgan executive calls on regulators and financial system players to take a more active stance, Dimon said:.

Too much capital and liquidity could possibly slow down the economy and push lots more to the shadow banking system.

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