Jamie Dimon Says Regulatory Status of Cryptocurrencies Needs to Be ‘Dealt With’

The JPMorgan CEO included cryptocurrency regulation among his chief concerns in his letter to shareholders.

AccessTimeIconApr 7, 2021 at 12:37 p.m. UTC
Updated Sep 14, 2021 at 12:37 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Jamie Dimon, the CEO of JPMorgan, has listed the legal and regulatory status of cryptocurrencies among a list of “serious emerging issues that need to be dealt with.”

  • In a letter to shareholders released Wednesday, Dimon describes his view on how aspects of the business are “bogged down in the past” and need to “focus on the future.”
  • “There are serious emerging issues that need to be dealt with – and rather quickly,” Dimon wrote, listing the legal and regulatory status of cryptocurrencies alongside the growth of shadow banking, cybersecurity risks and ethics around artificial intelligence (AI).
  • As have several of its Wall Street peers, JPMorgan has warmed to cryptocurrencies in recent months.
  • In November, Dimon acknowledged that "very smart people" are buying into bitcoin, although it's still not his "cup of tea," reiterating his longstanding belief that governments will ultimately regulate it more heavily.
  • A report released by JPMorgan last week set a long-term price target for bitcoin of $130,000.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Read more about