“I Will Eliminate Crypto Markets If I Become Government” – JPMorgan CEO

<p>&nbsp;"It's not just Jamie Dimon, even Elizabeth Warren seems to hate crypto."</p><p><br /></p><p>Jamie Dimon, Chief Executive Officer (CEO) of JPMorgan Chase &amp; Co. told US lawmakers that he would shut down the cryptocurrency market if he had government-like powers.</p><p><br /></p><p>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.</p><p><br /></p><p>Following that, Senator Elizabeth Warren who is a Massachusetts Democrat has joined hands with Republicans and banking leaders to target the crypto industry.</p><p><br /></p><p><br /></p><p>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.</p><p><br /></p><p>While Warren is of the view that the anti-money laundering rules that banks follow should be extended to digital assets as well.</p><p><br /></p><p>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.</p><p><br /></p><p>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.</p>