JPMorgan CEO Jamie Dimon once again criticized Bitcoin and cryptocurrencies, stating that if he were the government, he would order everything to "shut down".
"The only true use case is criminals, drug traffickers, money laundering and tax evasion," Dimon said at a US Congressional hearing.
Dimon, who is one of the most powerful bankers in the world, has been an outspoken critic of cryptocurrencies since they emerged. He has previously called Bitcoin a “fraud” and “poison”.
Dimon's criticisms reflect the concern of some sectors of the financial industry about the potential use of cryptocurrencies for illicit activities. However, supporters of cryptocurrencies argue that they can be used for a variety of legitimate purposes, such as international payments, transferring funds to developing countries, and investing.
Dimon's statements reignited the debate about the future of cryptocurrencies. Will the government ban or regulate cryptocurrencies? Or will they continue to grow and become an increasingly important part of the global economy?
