Jimmy Damon, CEO of JPMorgan, says the bank will allow customers to buy Bitcoin

Jpmorgan Chase Finally, customers are allowed to buy Bitcoin. But the CEO Jimmy Damon It is still skeptical.

“We will allow you to buy it,” Damon said on the bank’s annual investor on Monday. “We will not save it. We will put it in data for customers.”

The decision is a noticeable step for the largest American bank, especially because of the history of Damon in criticizing the digital currency and the encryption market on a large scale, which is the latest sign of Bitcoin’s entry into the prevailing investment. Since August, Morgan Stanley He has Permitted Its financial advisers to photograph some of the boxes circulated on the Bitcoin Stock Exchange for qualified customers.

Damon explained that his personal view of Bitcoin is still unchanged, while highlighting issues such as money laundering and lack of clarity surrounding ownership, along with “sex trafficking, terrorism”.

“I don’t think you should smoke, but I defend your right to smoking,” Damon said. “I defend your right to buy bitcoin.”

The bank is looking to provide access to customers to the investment funds circulating in Bitcoin, according to a person who has been briefed on its plans. To date, the company has been limited to exposure to encryption primarily to future products, not the direct ownership of Bitcoin.

When the encryption reviews were in 2021, Damon Bitcoin refused to be “worthless.” The legislators were told during the Senate session in late 2023 “He was always very opposed to encryption, bitcoin, etc.”, and that, “the only real issue of use is criminals, drug dealers … money laundering, and avoiding taxes.” He said in the hearing: “If you are the government, I will close it.”

At the 2024 World Economic Forum in Davos, Switzerland, Diam said“Bitcoin does nothing. I call it a pet rock.” “This is the last time I talk about this with CNBC, so God helped me.”

Morgan Stanley Ted Pick CEO CNBC said At this year’s event in Davos, the Investment Bank explores ways to deepen its participation in the encrypted currency markets, and transfer the organizational scene under the pro -President’s management management.

Since Trump took office in January, the federal deposit insurance company and the currency financial observer office have been directed to combat Crypto, with the Federal Reserve Follow follow -up. A notice issued by the Federal Reserve Bank January 2023 The banks continue to be restricted for some encryption activities. While banks can now cook custody, thanks Cancel an accounting base called SAB 121They still face some restrictions to work directly with Digital asset companies.

He watches: Damon says that his work period is “up to the painting”