JPMorgan CEO Jamie Dimon warns investors not to buy crypto – and calls for clearer rules around trading it

JPMorgan CEO Jamie Dimon warns investors not to buy crypto – and calls for clearer rules around trading it

Jamie Dimon blasted cryptocurrencies as inferior to traditional assets, warned people against buying them, and urged regulators to scrutinize them more closely at a this week. "Something that's not supported by anything, I do not believe has much value," the JPMorgan CEO said. Blockchain and stablecoins aren't in that camp, and his opinion doesn't dictate whether his company embraces crypto, he added. "My own personal advice to people is stay away from it," Dimon said. "That does not mean the clients don't want it - this goes back to how you have to run a business. I don't smoke marijuana, but if you make it nationally legal, I'm not gonna stop our people from banking it." JPMorgan is exploring ways to allow clients to buy and sell crypto and have it appear on their statements, the bank's chief said. However, he reiterated his view that crypto pales in comparison to conventional assets, and carries a lot more risk. "It's nothing like a fiat currency, it's nothing like gold," Dimon said. "Buyer beware." The executive also bemoaned the lack of rules in the crypto space, which he described as a "serious emerging issue" in his latest . "The regulators who are