JP Morgan exposed for money laundering

The largest bank in the Unites States JP Morgan faces difficulties after being found guilty of money laundering 
20 November 2017   1533

JP Morgan, an American multinational banking services holding company headquatered in New York City, faced allegations from Swiss Financial Market Authority for breaking rules of money laundering and the difficulties started to arrrive only two months after a $4 billion mortgage fraud fine in September 2017.

The report concerning JP Morgan money laundering was issued by Swiss Financial Market Supervisory Authority on June 30 and was scheduled to be made public the week after it was prepared. However, JPMorgan did everything possible to prevent it from being published. 

The Swiss Financial Market Authority revealed that JPMorgan seriously violated supervision laws, although no detailes have been published. FINMA is still unable to impose fines, but it is authorized to seize unlawfully acquired funds.

Moreover, in October 2017, Jamie Dimon, CEO of JPMorgan, faced a lot of controversy after saying that Bitcoin is a fraud, which irritated Steve Wozniak, Chamath Palihapitiya, Mike Novogratz. Jamie Dimon went further stating that it is necessary to fire anyone "stupid enough to trade bitcoin."

JP Morgan company stated that they will continue to make significant enhancements to theanti-money laundering program of the firm to ensure that they meet regulatory expectations.

There is nothing more important to us than the safety and soundness of the global monetary system.

JP Morgan spokesperson

Professional limitations on bankers might be imposed, and considering that FINMA was not authorized to levy fines and that both FINMA and JPMorgan refused to comment on the situation it is unclear what action the regulator had taken against JPMorgan.

Previuosly, it was reported that JP Morgan Chase announced the launch of Interbank Information Network based on Quorum blockchain in order to reduce delays in payments between banks.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   101

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.