CNBC - JPMorgan Chase CEO Jamie Dimon called for a ban on cryptocurrencies, citing their use for criminal activity and money laundering
JPMorgan Chase CEO Jamie Dimon called for a ban on cryptocurrencies during a Senate Banking Committee hearing, saying they are mainly used by criminals and for money laundering and tax avoidance.
He compared Bitcoin to a "pet rock" and a "hyped-up fraud". Dimon and other CEOs agreed that crypto companies should be subject to the same anti-money-laundering regulations as major financial institutions.
This rare agreement between Dimon and Senator Elizabeth Warren, a critic of Wall Street, highlights the growing concern over the potential risks of cryptocurrencies.
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