US Will Regulate Crypto Says JPMorgan Chase CEO

The US will begin regulating cryptocurrencies as unease about stablecoins and crypto in general grows in Washington, JPMorgan Chase & Co. CEO Jamie Dimon predicted Monday, October 11.

“Blockchain can be real, stablecoins can be real,” Dimon said, speaking to the Institute of International Finance annual membership meeting, per a Bloomberg News report. “No matter what anyone in the room thinks, nor what any libertarian thinks, nor what anyone thinks about it, the government’s going to regulate it.”

The CEO repeated his own views on Bitcoin, making sure to differentiate his own opinion and how his bank will handle the cryptocurrency, reported PYMNTS.

“I personally think that Bitcoin is worthless,” Dimon said. “Our clients are adults, they disagree, that’s what makes markets, so if they want to have access to buy yourself Bitcoin, we can’t custody it, but we can give them legitimate, as-clean-as-possible access.”

Meanwhile at the forum, Citigroup Chairman John Dugan said it would be appropriate to require banks to have high capital requirements for holding crypto assets.

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