: JPMorgan Chief Jamie Dimon says crypto-funded terrorism, crime proves governments should ban cryptocurrencies

An earlier version of the headline for this article misspelled the name JPMorgan Chase. The story has been corrected. JPMorgan Chase & Co. JPM Chief Executive Jamie Dimon told lawmakers they should crack down on cryptocurrency transactions by terror groups and rogue nations. “If I were the government I’d close it down,” Dimon said when asked by Sen Elizabeth Warren, Democrat of Massachusetts, about digital currency transactions during a Senate Banking Committee hearing on Wednesday. Transactions by North Korea and Hamas, among others, have funded terrorism around the world, Warren said. Dimon and chief executives from seven other of the U.S.’s largest banks agreed that cryptocurrency brokers should be subject to the same regulations as banks under the Bank Secrecy Act, which is designed to prevent terrorists and drug traffickers from using the financial system to fund their activities. Dimon said he’s “always been deeply opposed to crypto.”

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