JPMorgan CEO Jamie Dimon faced criticism after being named an authorized participant in BlackRock’s proposed Bitcoin exchange-traded fund just weeks following anti-crypto comments to US lawmakers. Crypto lawyer John Deaton questioned if it represented misleading gaslighting.
Advocates noted seeming irony around Dimon facilitating Bitcoin access after testifying crypto’s “only true use case” enables crime. Some wondered if JPMorgan is therefore comfortable participating in money laundering and tax evasion Dimon associated with the asset.
The reactions spotlight scepticism around mismatched actions and rhetoric from the influential bank chief regarding cryptocurrency and Bitcoin amid broader adoption in finance. Despite past opposition, JPMorgan continues warming to blockchain through offerings like its JPM Coin token.
As crypto permeates banking and Dimon’s own business contradicts his stance, calls are growing louder for leaders to move past tired crime arguments. Observers argue policy should focus on balancing prudent regulation against enabling technological progress.
