JPMorgan CEO: Buyers Should Be Careful With Cryptocurrencies!

  JPMorgan CEO: Buyers Should Be Careful With Cryptocurrencies! Jamie Dimon, CEO of JPMorgan, the largest bank in the US, said buyers should Be Careful with Cryptocurrencies. Speaking at the US House of Representatives Financial Services Committee convention on Thursday, Dimon expressed personal concerns regarding cryptocurrency. Despite this concern, Dimon said he would not distance JPMorgan Chase JPM (NYSE) $164.35 +2.52(+1.56%) from providing crypto-related financial services. Asked about his thoughts on Bitcoin and other digital assets at the congress, Dimon said: “My personal advice to people is to stay away from it. Of course, that doesn't mean customers don't want it. This situation raises the question of how you should run a business. If this is fully legalized at the national level, I will not allow our people to stop banking." Saying that crypto currencies cannot be compared with fiat currency or gold, the banking giant warned that "buyers should be careful". Dimon emphasized in his speech that he meant cryptocurrencies rather than blockchains or fixed coins.

Jamie Dimon, CEO of JPMorgan, the largest bank in the US, said buyers should Be Careful with Cryptocurrencies.

In addition, Dimon added that his personal views did not affect JPMorgan Chase's financial services to its clients. Because the bank is preparing to offer private asset clients an actively managed Bitcoin fund. “Can you help us buy or sell cryptocurrencies?” Dimon asks, currently speaking against cryptocurrencies, JPMorgan Chase's annual shareholders meeting on May 18. And said; We are also investing in this. " Defining Bitcoin as "fraud" in 2017, Dimon seems to change his mind quite often. "I'm not telling people how to spend their money, regardless of how I personally feel about something." Dimon added that JPMorgan Chase is discussing how to offer cryptocurrencies more "securely". Arguing that the asset class could benefit from a stricter regulatory framework, Dimon said he thinks the government will pay much more attention to this issue in the future. Jamie Dimon, CEO of JPMorgan, the largest bank in the US, said buyers should Be Careful with Cryptocurrencies.  

Source:Yahoo.Finance

 

You may also be interested in:

 

Amazon vs Walmart Comparison