Although blockchain, ledgers, smart contracts, decentralized finance (DeFi), and “tokens that do something” are valuable, according to Dimon, the unfavorable nature of crypto tokens prevents him from being more active in the crypto space.
When asked about the draft of the U.S. stablecoin bill, Dimon responded that a stablecoin that is properly regulated is harmless and that it should have rules akin to those of a money market fund.
By pointing out that the JP Morgan coin is a dollar deposit, Dimon said that JP Morgan is in favor of the blockchain. He also acknowledged that DeFi exists and that crypto can help with international transactions.
