JPMorgan Chase CEO Jamie Dimon: Governments should ban cryptocurrencies

JPMorgan Chase CEO Jamie Dimon told a panel of lawmakers on Wednesday that if he were the government, he would shut down cryptocurrencies. "I've always been very opposed to cryptocurrencies, Bitcoin, etc.," Dimon said in response to a question from Democratic Sen. Elizabeth Warren at a Senate Banking Committee hearing about why cryptocurrencies could be a tool to attract bad actors. “If I were the government, I would ban it,” Dimon continued, noting that cryptocurrencies can bypass government controls. Dimon has had a negative view of cryptocurrencies for years and has said people should stay away from Bitcoin. He also said that stablecoins need to be properly regulated. His comments come as lawmakers in Washington are working to curb the industry, with Sen. Warren pushing for her bill, the Digital Asset Anti-Money Laundering Act, which seeks to incorporate bank secrecy law requirements, including know-your-customer requirements. Rules, extending to cryptocurrency miners, validators, wallet providers and others.