- JPMorgan has hired a brand new mind from the digital assets regulatory policy division.
- Lovine labored at Celsius as mind of policy and regulatory matters.
Despite Chief executive officer Jamie Dimon’s critique of Bitcoin along with other cryptocurrencies as “decentralized Ponzi schemes,” the greatest investment bank on the planet, JPMorgan has hired a brand new mind from the digital assets regulatory policy division.
Based on Bloomberg Law, Aaron Iovine, who formerly labored inside a similar role in the insolvent crypto finance company Celsius, has became a member of JPMorgan.
Based on his LinkedIn page, after nearly 3 years at Mix River, a crypto-friendly Nj financial services business, Lovine labored at Celsius from Feb to September of the year as mind of policy and regulatory matters.
Forays into Crypto Despite Critique
Former Treasury Department deputy assistant secretary for worldwide markets Sharon Yang allegedly heads JPMorgan’s regulatory matters department, where he’ll work.
Under per month after JPMorgan Chief executive officer Jamie Dimon again belittled cryptocurrencies, calling themself a “major sceptic of crypto tokens […] like Bitcoin” and likening Bitcoin along with other cryptocurrencies to “decentralized Ponzi schemes,” JPMorgan hired Lovine to guide its digital assets regulatory policy division.
Dimon’s curiosity about cryptocurrency wasn’t novel. In The month of january 2014, prior to the collapse of Mt. Gox, the 66-year-old millionaire made his first public comments against Bitcoin, calling it “a terrible store of value” and stating that cryptocurrencies “can be replicated again and again.”
Furthermore, Dimon has lengthy known Bitcoin like a “fraud” and “fool’s gold,” yet in 2019, JPMorgan produced its very own U.S. dollar-pegged stablecoin named JPM Gold coin. Additionally to Grayscale Bitcoin Trust (GBTC), the bank’s wealth management customers may purchase Bitcoin, Ethereum, Bitcoin Cash, and Ethereum Classic.
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