J.P. Morgan chief Jamie Dimon takes aim at crypto regulators

The CEO of the U.S. bank JPMorgan, Jamie Dimon, has, according to recent reports, criticized the passivity of crypto regulators.

The CEO of the American bank J.P. Morgan, Jamie Dimon, has according to recent reports criticized the passivity of crypto regulators. It’s said he accused them of not focusing at all on crypto and instead doing absolutely nothing to avert the dramatic FTX collapse.

For this, the FTX founder and mastermind behind the downfall, Sam Bankman-Fried, would probably end up in jail, the report goes on.

The J.P. Morgan CEO has long been a vocal crypto critic. Recently the banker called Bitcoin a "decentralized Ponzi scheme." But his stern tone toward regulators is evidence of his interest in the crypto sector. Because despite all the criticism, J.P. Morgan is pushing into the space harder than ever. Under Dimon, clients have been able to access several crypto services since this year. The bank also explored the DeFi sector for the first time in November with a transaction on the Ethereum side-chain Polygon.

Jamie Dimon would now at least be somewhat reassured by the recent calls for more crypto regulation in the wake of the G20 summit. The U.S. Senate is also working on a bill, the DCCPA, whose authors hope it will prevent a new FTX-style debacle in the future.