“JPMorgan chief executive Jamie Dimon is not a fan of Bitcoin because ‘a lot of it is being used for illicit purposes’. Speaking at the World Economic Forum in Davos, the Wall Street supremo said the virtual currency is a ‘terrible store of money’ and questioned its legal status over allegations that it is used to fund illegal activities. ‘It doesn’t have the standing of a government,’ Dimon told CNBC. Dimon, 57, also warned that Bitcoin faces major regulatory hurdles going forward and drew an interesting comparison between the banking industry and the virtual currency.”
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