JPMorgan Chase CHIEF EXECUTIVE OFFICER Jamie Dimon talks throughout the Global Markets Conference, in advance of the Choose France top, in Paris, on May 15, 2025.
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JPMorgan Chase is lastly enabling customers to get bitcoin But CHIEF EXECUTIVE OFFICER Jamie Dimon is still a doubter.
“We are going to allow you to buy it,” Dimon claimed at the financial institution’s yearly financier day onMonday “We’re not going to custody it. We’re going to put it in statements for clients.”
The choice notes a noteworthy action for the biggest united state financial institution, especially because of Dimon’s background of slamming the electronic money and the crypto market generally, and is the most up to date indicator of bitcoin’s entrance right into mainstream investing. Since August, Morgan Stanley has actually permitted its monetary consultants to pitch some place bitcoin exchange-traded funds to certifying customers.
Dimon made it clear that his individual sight of bitcoin stays unmodified, highlighting problems like cash laundering and the absence of quality bordering possession, together with “the sex trafficking, the terrorism.”
“I don’t think you should smoke, but I defend your right to smoke,” Dimon claimed. “I defend your right to buy bitcoin.”
A JPMorgan representative decreased to clarify on the financial institution’s particular prepare for bitcoin gain access to. Until currently, the firm has actually restricted its crypto direct exposure mostly to futures-based items, not straight possession of bitcoin.
When crypto appraisals were skyrocketing in 2021, Dimon disregarded bitcoin as “worthless.” He informed legislators throughout a Senate hearing in late 2023 that he’s “always been deeply opposed to crypto, bitcoin, etc.,” which, “The only true use case for it is criminals, drug traffickers … money laundering, tax avoidance.” He claimed at the hearing that, “If I was the government, I’d close it down.”
At the 2024 World Economic Forum in Davos, Dimon claimed, “Bitcoin does nothing. I call it the pet rock.” He included that, “This is the last time I’m talking about the with CNBC, so help me God.”
Morgan Stanley CHIEF EXECUTIVE OFFICER Ted Pick informed CNBC at this year’s occasion in Davos that the financial investment financial institution is discovering methods to strengthen its participation in cryptocurrency markets, browsing the governing landscape under the pro-crypto management of President Donald Trump.
Since President Trump took workplace in January, the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency have actually retracted their anti-crypto assistance. While financial institutions can currently safekeeping crypto, many thanks to the abolition of an accountancy guideline called SAB 121, they still encounter constraints on functioning straight with crypto companies without specific authorization from the Federal Reserve.
SEE: Dimon claims his period is ‘as much as the board’
