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JPMorgan launches crypto strategy

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JPMorgan chief executive Jamie Dimon might have softened his stance on bitcoin since calling it a “fraud” last year, but the banking giant has given its clearest signal yet that it is taking cryptocurrencies seriously. Although Dimon had formerly cursed the cryptocurrency attention in Sep 2017, he told CNBC in Dec 2017 that “I’m big to uses of cryptocurrencies if scrupulously tranquil and regulated.”
London-based Harris, who has been leading JPMorgan’s Fintech and In-Residence programme since 2015 was appointed to explore the potential of cryptocurrency.
“Cryptocurrencies are real, but not in the current form,” Daniel Pinto, co-president of JPMorgan told CNBC.
This move come as such a time when large US investment banks are exploring the risks and rewards of digital monies and the distributed ledger and blockchain technologies that underpin them.

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