in

JP Morgan CEO Jamie Dimon calling for more crypto regulation is hypocrisy at its finest.

[This Decrypt article](https://decrypt.co/65800/jp-morgan-jamie-dimon-bitcoin-regulation) reports that Dimon said in a shareholder letter that clear-cut regulation regarding crypto and fintech “shadow banks” is needed more than ever before.

This is the CEO of the same bank that spends millions of dollars every year lobbying against financial regulation on THEMSELVES. Specifically, the bills the bank historically lobbied about most often involved loosening the regulations Congress tried to place on the financial instruments called “derivatives” that were at the heart of the last financial crisis. [Dimon himself has said ‘Regulation, bureaucracy, and stupidity’ are what’s wrong with America](https://finance.yahoo.com/amphtml/news/jamie-dimon-jpmorgan-regulation-165058287.html).

tl;dr – Corrupt crony corporate boomer wants to regulate crypto which gives power to the masses. The big banksters are afraid. They’re losing because of their past greed and corruption. Crypto will render them useless forever.



View Reddit by dragondude4View Source

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

37 Comments

  1. It still amazes me (as a European) how lobbying is legal in the US. I think that the line between bribery and lobbying is extremely thin as you basically pay lawmakers to make regulations in your favour.

    Could someone elaborate what the difference between lobbying and bribery is?

  2. Lol what a fucking clown of a human being running a bank that literally has been fined for multiple accounts of market manipulation and all sorts of other illegal activities. This guy can go regulate a fat dick in his mouth. Banks are realizing their days are slowly coming to an end as the everyday normal person can be financially free from these corrupt businesses.

  3. It’s pretty much the same thing that has been happening with the entire GME ordeal.

    Investment firms using certain tactics to drive the price in a direction that benefits them, but when common folks do the exact same thing then they quickly jump to asking for more regulation. Then it’s suddenly manipulation and illegal.

  4. Is this meant to be surprising? We all know how these douchebags operate.

    Spread FUD, snatch the assets up for yourself at a discounted price, and reap the rewards from your fear-mongering.

  5. of course he is.he sees a competitor he can’t buy that doesn’t have regulation that they have so his best way to beat his competitor of crypto is to use his influence to knock it down a peg

  6. That’s just how it works, whoever has the money get politicians do their favors. Maybe Coinbase or other crypto giants will be willing to advocate politically and shill out money to lobby for crypto one day

  7. Regulation is coming.

    I suspect there will be an incidence in some DeFi platform that causes regulators to look at it.

    There are cool tools in DeFi, but there is a shit tonne of outright Ponzi scammery. This won’t be allowed to continue forever.

  8. I had a guy come in to offer to buy my business. He spent the first 20 minutes telling me what a shitty mom and pop operation it was before he made me an offer.

    This is Dimon. Theyre well loaded up while they talked shit to buy at a discount. Its not hypocrisy, its just your average slimy businessman

  9. He’s a walking contradiction, but so many are. I honestly think he just doesn’t get the crypto space, like, it doesn’t compute. It’s an old mentality that will die out eventually. JP Morgan is the biggest benefactor of regulation in the world. The more regulation, the more potential control they have.

  10. Silly pleb, when it benefits them regulations are good! 😂.

    For those not catching on, this is sarcastic and i agree with op tht this is hypocritical. But idk not financial advice (for real this time)

  11. Well, he also mentioned about banking playing a smaller role now. Which is true, they’re that “useful” to society! Many fled to crypto because the banks, shares and entire financial market is rigged!

  12. First he laughed and dismissed it. Played like it was a big joke tulip mania… then you find out they were doing research and how they wanted to put out their own coin, now he wants it regulated.I actually respected this guy at one point , now I can’t trust a word he says

Loading…

0

What do you think?

Cryptopolitan

Polkadot price prediction 2021 – 2025

SBI's Subsidiary to Offer Shareholder Rewards With XRP Tokens

State Street Moves One Step Closer To Crypto With Latest Partnership