Warren and Dimon Call for Crypto Regulation Amid Market Resurgence

Both express serious concerns about the potential misuse of cryptocurrencies, with Dimon suggesting he would 'close it down' if he were the government.

Sen. Elizabeth Warren and JPMorgan Chase CEO Jamie Dimon have both expressed serious concerns about the potential dangers of cryptocurrencies, with Dimon stating he would 'close it down' if he were the government.
Warren highlighted the use of cryptocurrencies by terrorists, drug traffickers, and rogue nations to finance their illegal activities, and called for an update to the Bank Secrecy Act to address the 'threat' of crypto.
Dimon agreed with Warren that crypto companies should face the same anti-money laundering regulations as major financial institutions.
Despite his criticism of cryptocurrencies, Dimon's bank, JPMorgan, is heavily involved in blockchain technology and has its own crypto token, JPM Coin.
Warren's and Dimon's comments came amid a resurgence in the crypto market, with Bitcoin trading near $44,000.