Summary
- JP Morgan's CEO Jamie Dimon stated that regulatory uncertainty makes it difficult to provide account services to crypto firms in the US.
- Dimon pointed out that JP Morgan is exposed to fine risks while dealing with crypto firms.
- He added that clear guidance is needed when accounts are frozen, and there needs to be a clear regulatory boundary on the role of banks.
On the 23rd (local time), according to crypto-specialized media The Block, Jamie Dimon, CEO of the largest bank in the United States, JP Morgan, appeared on a recent podcast and pointed out that "due to regulatory uncertainties, it is currently a reality that US banks find it difficult to provide account services to crypto firms."
He explained, "JP Morgan is also dealing with some crypto firms, but under the current regulatory environment, we are always exposed to the risk of paying millions of dollars in fines if issues arise."
Furthermore, he added, "If we were to freeze a (crypto firm) customer's account, we have no way to inform them," and "at the very least, we should be able to tell customers why their account was frozen. Also, there needs to be a much clearer boundary on what banks should and should not do."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
