RATE Group | JPMorgan’s Jamie Dimon says Facebook cryptocurrency Libra won’t happen
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JPMorgan’s Jamie Dimon says Facebook cryptocurrency Libra won’t happen

21 Oct JPMorgan’s Jamie Dimon says Facebook cryptocurrency Libra won’t happen

Posted at 02:02h in Cryptocurrency News by

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  • 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 Dimon dinged the currency at a conference by the Institute of International Finance in Washington, saying: “It was a neat idea that’ll never happen.”

We saw the news of Dimon’s remarks via Bloomberg.

Dimon…

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