Stablecoins, which are digital assets linked to the value of the US dollar or other currencies, wouldn’t be a problem with the correct legislation, since JPMorgan is engaged in blockchain technology.
The comments are the most recent critique of digital currencies by Dimon; who previously called Bitcoin “a scam” before retracting his statement.
Cryptocurrency assets have been compared to decentralized Ponzi schemes by Jamie Dimon, CEO of JP Morgan Chase. In response to inquiries concerning blockchain technology at a recent House Financial Services Committee hearing on megabanks, Dimon made this statement.
Dimon believes that the notion that they are advantageous to anyone is ludicrous. In his criticism of digital assets, Dimon pointed to fraud and hacks that have cost owners billions of dollars.