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Lots of of billions of {dollars} value of fines have been paid by the 4 largest banks within the US as JPMorgan’s chief government sounds off in opposition to digital property, saying they’re for criminals.
In keeping with company misconduct knowledge aggregator Violation Tracker, the massive 4 banks of the US – Financial institution of America, Wells Fargo, Citigroup, and JPMorgan – have paid a staggering $181 billion value of fines because the 12 months 2000.
The info unveils that Financial institution of America has paid a complete of 324 fines value $87.2 billion because the begin of the millennium whereas Wells Fargo has been fined 261 occasions for a complete of $27.5 billion.
Violation Tracker additionally reveals that Citigroup was found to be in violation 181 occasions, paying $26.9 billion value of fines whereas JPMorgan has been hit with a complete of 272 fines value $39.3 billion.
The information comes as JPMorgan CEO Jamie Dimon tells Congress throughout a current assembly that crypto property are instruments for unhealthy actors that he would shut down if he may.
As said by Dimon, per CNBC,
“I”ve at all times been deeply against crypto. Bitcoin, and so forth. You identified the one true use case for it’s criminals – drug traffickers, cash laundering, tax avoidance, and that could be a use case as a result of it’s considerably nameless, not totally, and since you possibly can transfer cash instantaneously.
And since it doesn’t go all these methods [that] have constructed up over a few years – know your buyer (KYC), sanctions, OFAC (Workplace of Overseas Asset Management) – they will bypass all of that. If I used to be the federal government, I’d shut it down.”
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Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses you might incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in internet online affiliate marketing.
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