Bitcoin Forum

Score one for the poetic irony pages.

Two months after JPMorgan CEO Jamie Dimon lashed out at bitcoin, calling it a "fraud" which is "worse than tulip bulbs, warning it won't end well", will "blow up" and "someone is going to get killed" and threatened that "any trader trading bitcoin" will be "fired for being stupid" as it was merely a tool for money-laundering, today Swiss daily Handelszeitung reported that the Swiss subsidiary of JPMorgan was sanctioned by the Swiss regulator, FINMA, over money laundering and "seriously violating supervision laws."

As the newspaper adds, the Swiss sanctions relate to breaches of due diligence in connection with money laundering standards. In other words, JPMorgan was actively aiding and abeting criminal money laundering.

The report further notes, the Finma decision was issued on June 30 and should have been published the following week but JPMorganm tried to prevent the publication of the judgment. More recently, the Federal Administrative Court dismissed the appeal.

In response to money-laundering violation, JPM said that in support of safety and soundness of global monetary system, “we have made and continue to make significant enhancements to the firm’s AML program to ensure we are meeting regulatory expectations,” according to an emailed statement sent to Bloomberg.

Unfortunately, JPMorgan also said that it can’t, or rather won't, provide further details since the Finma resolution from June 2017 isn’t public.

This means that anyone wondering if Jamie Dimon's bank was using (and thus trading) bitcoin to circumvent Swiss anti-money laundering regulations, will just have to ask Jamie Dimon in person during his next public appearance. 

The ugly truth is that bitcoin is a money laundering tool,as well as all the altcoins,but the main money laundering system is the banking system and all the offshore companies around the world.
The "dirty" money from drugs,gambling,whoring will continue to be a major part of the world`s financial system.The greedy bankers want a part of them, so they will continue to support the  mafia.
I`m glad that the cryptocurrency community is still far away from this.

Nope, because Bitcoin is just technology with value. People are those who decide how to use it. You could do money laundering with bananas if you want and this is not making the bananas money laundering tool.

Well, it's very ironic, if JPMorgan knew about bitcoin and how good it for money laundering, why didn't they use it?

That's the reason they got caught, and if they got caught, they probably are not so good at money laundering, so why would we believe them that bitcoin is being used to launder money.


It's pretty common now days, a big bank( which is a competitor to bitcoin), or a  big organization, publish a letter that says "bitcoin is a fraud" just to temporarily lower the price so they can later invest it with a low entry price.
 

Funny situation.
JP did it just to lower the price and buy coins.

But now they will suffer and they deserves it.

Regulation are just to fill somebody's pockets and nothing more.
Does Bitcoin invented drug cartels and so on? No. If you have criminal mind you will always find a way to do whatever you are planning to do.

One of the most evil person in world saying that bitcoin is bad, so, i presume it's good
joke apart, i agree with @Youghoor, those conspiracies are real and is worrisome to think about how much control these people have on the market, and not only in the crypto ones.

That is one hypocrite of a shit man I have ever seen. I am not surprised, as this is what most of these guys  have always been doing. They are so corrupt, so manipulative and all they can think of is how to enrich themselves at the detriment of the masses. The same dude who condemned bitcoin openly went ahead to do some xbt transaction for his client. What can one say about someone like that in the first place ?