Cynthia Lummis criticizes JPMorgan's anti-virtual-asset policy…"Pushing the industry overseas"
Summary
- Senator Cynthia Lummis said JPMorgan's anti-virtual-asset policy hinders industry growth.
- Lummis said such policies can weaken banks' credibility and push the industry overseas.
- She said JPMorgan's policy could negatively affect U.S. innovation competitiveness.
U.S. Senator Cynthia Lummis publicly criticized JPMorgan's anti-virtual-asset (cryptocurrency) policy, saying the attitude of established financial institutions hinders industry development.
On the 24th (local time), according to crypto-focused media WatcherGuru, Lummis said that JPMorgan's anti-virtual-asset stance is weakening trust in banks and pushing the industry overseas. She criticized, "JPMorgan's policy could weaken U.S. innovation competitiveness."
Earlier, JPMorgan warned of the possibility of large outflows related to its strategy and attracted market attention by selling $134 million worth of strategy shares.
Lummis is a leading pro-virtual-asset figure in the U.S. Congress, and her remarks suggest that financial institutions' approaches to virtual assets may emerge as a key issue in regulatory discussions.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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