Jamie Dimon Doubles Down on Bitcoin Criticism, Calls for Government Shutdown Despite JPMorgan's Own Crypto Pursuits
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JP Morgan CEO Jamie Dimon said the government should "close down" Bitcoin, calling it useful only for "criminals, drug traffickers, money laundering, tax avoidance."
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This continues Dimon's long-standing criticism of crypto; in 2017 he called Bitcoin a "fraud."
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However, JP Morgan has developed its own digital coin, JPM Coin, showing interest in blockchain technology.
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Crypto advocates argue Bitcoin transactions are actually transparent, not anonymous, contrasting Dimon's claims.
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Government officials have even suggested Bitcoin supports law enforcement through transaction transparency.