CEO of JPMorgan Jamie Dimon Disses Bitcoin, and Bitcoiners Diss Back

Jamie Dimon

So who doesn’t like Bitcoin? Let’s see, the Fed, Jack Lew, Paul Krugman, the IRS, and super crony Jamie Dimon.

This tells me something.

(From WSJ.com)

He noted that banks are under tremendous pressure to know who their customers are and to flag possible money launderers, and with bitcoin, he said, “that’s impossible.”

Mr. Dimon suggested that eventually bitcoin will be forced to adhere to government regulators, “and that will be the end of them.”

Mr. Lew said he shared Mr. Dimon’s take on bitcoin. “I’ve talked to Jamie Dimon about it. I think he and I both share a certain incredulity about the whole phenomenon.” What the government is most concerned about, he said, is that bitcoin “does not become an avenue to funding illegal activities.” *

Click here for the article.

* I love that Jamie Dimon whose bank was just handed a huge (but mostly tax deductible) fine from the Department of Justice for fraud is waxing Bitcoin with the current Treasury Secretary Jack Lew. The crony world is not that big. One of the reasons the money is.