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Banking Giants Fight Crypto at US Congress



The United States House of Representatives Financial Services Committee on 10th April recently saw CEOs of several banks stand before them to give their thoughts on banking’s status quo following the 2008 financial crisis, including the position of cryptocurrencies and blockchain.

Warren Davidson’s representative view was that blockchain had found its place in addressing cybersecurity and transforming outmoded financial systems, but felt the regulation was still dragging behind other jurisdictions where progressive measures were being introduced to facilitate the blockchain industry.

The chairman and CEO of the banking giant JP Morgan Chase, Jamie Dimon suggested that the bank was “supportive of cryptocurrencies as long as they are properly controlled and regulated”. It was highlighted that, at the time, Dimon was one of cryptocurrencies biggest detractors but with the new JPM Coin being announced, it’s clear that his view has now changed. Dimon’s latest comments is that, over…



Read Full Story : Crypto Daily™

2019-04-12 09:30:00

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