Seeking Alpha
2021-05-27 21:14:06

Jamie Dimon, still crypto-skeptic, won't stop JPMorgan from offering crypto services

During Congressional testimony today, JPMorgan Chase (JPM) Jamie Dimon says his personal advice is to "stay away" from cryptocurrency, but he won't stop the bank from offering crypto-related financial services.via Yahoo Finance.He said his personal views aren't factored into the financial services that the company offers.“This goes back to how you have to run a business. I don't smoke marijuana but if you make it nationally legal, I'm not going to stop our people from banking it," he said.In 2017, Dimon called bitcoin a "fraud" then months later said he regretted that characterization. At the time, he did saw he was a believer in blockchain, the technology that makes cryptocurrencies possible.Last month, JPMorgan was reportedly preparing to offer an actively managed bitcoin fund to certain of its private wealth clients.

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