JP Morgan Boss Jamie Dimon Says Bank Will Allow Clients to Buy Bitcoin
JP Morgan will allow customers to buy Bitcoin, marking a significant shift in the bank's stance on cryptocurrency. CEO Jamie Dimon announced this during the bank's investor day, stating that while customers can purchase Bitcoin, JP Morgan will not provide custody services for it. Dimon has previously criticized Bitcoin, labeling it a "fraud" and expressing opposition to cryptocurrencies. The decision to enable Bitcoin purchases appears to be driven by client demand. Other major U.S. banks are also exploring crypto-related offerings, with Morgan Stanley indicating plans to work with regulators on safe crypto products. Additionally, U.S. regulators have adopted a more lenient approach towards cryptocurrencies since the election of a crypto-friendly president.
