JPMorgan Chase & Co. Sustainable industry giant JPMorgan Chase CEO Jamie Dimon drew rebuke from the digital currency sphere when he voiced opposition to cryptocurrencies Wednesday, going on to suggest they should be shuttered by federal authorities.
Testifying Tuesday before a U.S. Senate Committee, Dimon claimed that a primary use case for cryptocurrencies – such as Bitcoin and the like – was for perpetuating illegal activities, including money laundering endeavors and drug trafficking.
In critiquing these platforms, the JPMorgan leader purported that anonymity played a key role for encouraging illegitimate dealings due to the anonymity these digital assets are capable of providing users, allowing them to move funds virtually undetected.
“If I were the government, I’d close it down,” Dimon said.
But there a handful of social media reps. were quick to double-down in defiance of the banking tycoon … and lend quite the courtside coaching to those supporting cryptocurrencies. Like the Treasurers | Observer Anonymoususer who tweeted, “In other words, Dimon said prettke much, Criminals are using crypto instead of my bank. This is not fair!”; GemScope who added, “You can’t close down crypto, #bitcoin etc.”; and Dekgo who echoed their podiums with,”These boomers need to go. Meanwhile, people still use fiat for all types of criminal activities.”.
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