According to a report from Decrypt, JP Morgan CEO, Jamie Dimon, has once again criticised Bitcoin, claiming that the cryptocurrency asset serves as a tool for criminals and a means of tax evasion. During an interview with Fox Business host Maria Bartiromo, Dimon expressed his outrage over the digital asset, which is expected to be the basis for an exchange-traded fund (ETF) that is pending approval from the U.S. Securities and Exchange Commission (SEC). Despite Dimon's criticism of Bitcoin, global investment giant BlackRock has labelled JP Morgan an active participant in its ETF filing with the SEC in December, as reported by Bloomberg.
Dimon has also expressed his doubts about the success of upcoming bitcoin ETFs, citing low interest in such ETFs in Canada and Europe. Last month, during a U.S. Senate Banking Committee hearing, Dimon suggested that the government shut down Bitcoin after a question from Senator Elizabeth Warren regarding the cryptocurrency's use by criminals and terrorists. Despite Dimon's continued stance against Bitcoin as a means of payment or store of value, JP Morgan has been experimenting with blockchain technology, including the development of the authorised cryptocurrency JPM Coin, unveiled in 2019.
