JPMorgan (JPM) has appointed Aaron Iovine as its head of crypto regulatory policy, a newly created role, according to a Bloomberg report on Wednesday.
The U.S. investment banking giant wishes to expand its digital asset regulatory scope given the volatile conditions in the market in recent months with a downturn in cryptocurrencies' values and several firms becoming insolvent.
JPMorgan CEO Jamie Dimon is well known for his disdain for cryptocurrency, most recently referring to crypto tokens as "decentralized Ponzis." He did, however, praise blockchain technology, noting its certain "real" aspects, and using JPMorgan's Onyx platform for wholesale payments as an example.
The bank did not immediately respond to CoinDesk's request for comment on the new hire.
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