Bitcoin to be banned in the US

Jamie Dimon, CEO of the largest US bank JP Morgan, has criticized bitcoin BTC $56,459.08 Bitcoin -3.08% Market capitalization $1.11 trillion VOL. 24 hours $4.5 billion and other cryptocurrencies, suggesting that US officials ban cryptocurrencies.

«I've always been strongly opposed to cryptocurrencies, bitcoin and so on,» said Dimon, answering a question from Massachusetts Senator Elizabeth Warren during a hearing at the Senate Banking Committee. — «The only real use for cryptocurrencies is crime, drug trafficking, money laundering, tax evasion. If I were the government, I would shut it down.»

These statements are the latest harsh outburst against cryptocurrencies by Daimon, although his bank is actively involved in blockchain, a technology that is enabling the development of a $ 1.6 trillion industry.

In previous statements, Daimon called the flagship a «hyped-up scam,» but later retracted this opinion.

Under further questioning from Senator Warren, Daimon and several other executives from major U.S. banks agreed that cryptocurrency companies should be subject to the same anti-money laundering regulations as large financial institutions.

The discussion marked a rare moment of unity between the banking leaders and Warren, who is usually a harsh critic of the entire financial industry.

«When it comes to banking policy, I don’t usually hold hands with CEOs of multibillion-dollar banks, but this is a matter of national security. Terrorists, drug traffickers, and rogue states should be prohibited from using cryptocurrency for their dangerous activities. It’s time for Congress to act,» Warren concluded.