Jamie Dimon

JPMorgan CEO Jamie Dimon dinged Facebook’s cryptocurrency Libra, saying it was a “neat idea” that won’t happen. Facebook announced the money in June, with the idea that people all over the world could use it to pay for services online. But regulators and prospective partners are suspicious, were afraid that the currency could be used for criminal purposes and that it threatens financial stability. Dimon didn’t elaborate, but he’s previously carried skepticism about digital currencies, once describing bitcoin as a fraud. Visit Business Insider’s homepage for more stories.

Facebook’s uphill struggle with its cryptocurrency Libra just got a little steeper, after the CEO of one of the world’s biggest banks said the currency “will never happen.”

JPMorgan CEO Jamie Dimon dinged the money at a seminar by the Institute of International Finance in Washington, saying: “It was a neat idea that’ll never happen.”See the rest of the story at Business Insider

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