Jamie Dimon, the chairman and CEO of JPMorgan Chase, a global financial services firm, has been reported to claim that Facebook’s Libra project is going to be the talk of many people. Thus, he believes that it does not pose a threat in the near future. Jamie Dimon made this known during a conference call with analysts.
During the speaking, Dimon asserts that talks about Facebook’s cryptocurrency project, Libra, has been going on for seven years yet nothing significant has happened. He then avers that about three years from now, we are going to be talking about the project.
“To put it in perspective, we’ve been talking about blockchain for 7 years and very little has happened. We’re going to be talking about Libra three years from now. I wouldn’t spend too much time on it.” He claims.
Dimon added that there is no need for competition rather a leveled playing ground is better. And that since no one aids terrorism or criminal activities, there will be an insistence from the government on conformance to the the rigorous anti-money laundering rules.
“We don’t mind competition,” Jamie Dimon said. “The request is always going to be the same: We want a level playing field. And governments are going to insist that people who hold money or move money all live according to rules where they have the right controls in place; no-one wants to aid and abet terrorism or criminal activities.”
Jamie Dimon’s statements, especially as it regards to regulation in order to curb terrorism or criminal activities, can be taken to come on the heels of Donald Trump’s tweets and Steven Mnuchin’s press conference in support of Trump. These two figures have spoken badly about the ability of cryptocurrencies to facilitate illicit activities.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Steven Mnuchin is the United States Treasury Secretary. He recently echoed Donald Trump’s tweet posts on the negative use of cryptocurrencies.
“Cryptocurrencies such as Bitcoin have been exploited to support billions of dollars of illicit activity, like cybercrime, tax evasion, extortion, randomware, illicit drugs, human trafficking” … “I think to a large extent, these cryptocurrencies have been dominated by illicit activities and speculation.”
Mnuchin then quotes Trump saying: “Bitcoin is highly volatile and based on thin air’”… “Treasury takes very seriously the role of the U.S. dollar as the world’s reserve currency.”
Let us recall at this juncture that Jamie Dimon as the CEO of JPMorgan firm is reportedly expecting to project its own digital token known as JPM Coin by the end of 2019.
Busted: China Has ‘Banned’ Crypto for the umpteenth time
Twitter Lanches Bitcoin Tip Service, Available on iOS Devices
Dubai regulators have flung open the door for crypto businesses
Giveaway Scam Resolve; Bitcoin.org is back online: Will the perp be found?
VanEck to Give Clients Access to Crypto by Offering a Solana ETF
Solana based DEX, Orca Closes $18M Series A Round
We don’t expect all businesses to adopt e-Naira –CBN
We chose Bitt Inc for the e-Naira because of Capacity & Experience – CBN
KB24 Launches NFTs Collection in Memory of Kobe Bryant, Proceeds to be Given to Charity
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
How Blockchain Technology Can Transform Governance In Africa
E-naira Project Award to BITT Raises Regulatory Questions
The Central Bank of Nigeria’s e-naira Project has generated a number of questions lately. The most recent is the contention...
Ecosystem Growth Fund: The newest ways to market and promote blockchain platforms
Fantom, Harmony, Algorand & OKEx has in less than a month announced a billion dollars fund to boost development on...
TOKEN2049 Returns for In-Person Event this October in London
Highly anticipated conference at the forefront of the digital assets space marks the return of one of the first major...
OKEx Launches Super Affiliate Program
Are you a KOL or content creator in the crypto space? Do you want to boost your earning by introducing...
Influencers Are the Drive behind NFTs Popularization – Karla Obarkpolor
The founder of NFT marketplace Qlipit and Crypto Asset Management Company, Crypto Smart has stated that influencers have played big...