Jamie Dimon Says Libra Does Not Pose a Threat in Short Term

Jamie Dimon, CEO of global financial services firm JPMorgan Chase, argued that Facebook’s cryptocurrency project Libra does not pose a threat in the foreseeable future.

As reported by CNBC, Dimon delivered his comments during a conference call with analysts on Tuesday, July 16. Dimon said that he would not spend too much time on Libra, specifying that “to put it in perspective, we have been talking about blockchain for seven years and very little has happened. We are going to be talking about Libra three years from now.”

Dimon continued saying that any new effort will have to comply with the industry’s Anti-Money Laundering provisions. Dimon said:

“We don’t mind competition. The request is always going to be the same: We want a level playing field. And governments are going to insist that people who hold money or move money all live according to rules where they have the right controls in place; no-one wants to aid and abet terrorism or criminal activities.”

Dimon’s…