RATE Group | JPMorgan’s Jamie Dimon dings Facebook’s cryptocurrency Libra, saying it will never happe…
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JPMorgan’s Jamie Dimon dings Facebook’s cryptocurrency Libra, saying it will never happe…

20 Oct JPMorgan’s Jamie Dimon dings Facebook’s cryptocurrency Libra, saying it will never happe…

Posted at 20:55h in Cryptocurrency News by

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Jamie DimonJamie Dimon, CEO of JPMorgan Chase, speaks about investing in Detroit during a panel discussion at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018.REUTERS/Brian Snyder

  • JPMorgan CEO Jamie Dimon dinged Facebook’s cryptocurrency Libra, saying it was a “neat idea” that won’t happen.
  • Facebook announced the currency in June, with the idea that people all over the world could use it to pay for services online.
  • But regulators and prospective partners are suspicious, fearing that the currency could be used for criminal purposes and that it jeopardizes financial stability.
  • Dimon didn’t elaborate, but he’s previously expressed skepticism about digital currencies, once describing bitcoin as a fraud.
  • Visit Business Insider’s homepage for more stories.

Facebook’s uphill struggle with its cryptocurrency Libra just got a little steeper, after the CEO of one of the world’s biggest banks said the currency “will never happen.”

JPMorgan CEO Jamie…

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