"It's not just Jamie Dimon, even Elizabeth Warren seems to hate crypto."
Jamie Dimon, Chief Executive Officer (CEO) of JPMorgan Chase & Co. told US lawmakers that he would shut down the cryptocurrency market if he had government-like powers.
Earlier, Dimon had called the digital asset a ponzi scheme and fraud following a series of hacks in the crypto market that have received a lot of attention from US regulators and lawmakers since the collapse of FTX.
Following that, Senator Elizabeth Warren who is a Massachusetts Democrat has joined hands with Republicans and banking leaders to target the crypto industry.
Dimon and other industry leaders, including Brian Moynihan of Bank of America Corp, also said they have safeguards in place to prevent terrorists from using their institutions.
While Warren is of the view that the anti-money laundering rules that banks follow should be extended to digital assets as well.
Warren has never been interested in working with the CEO of a multi-billion dollar bank, but this time it's a matter of national security, her previous comments have raised concerns about regulatory requirements for major lenders with crypto.
Dimon's repeated criticism of the crypto market does not cover blockchain technology following JPMorgan's launch of JPM Coin, a stablecoin that allows customers to make blockchain-based payments.
