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 <p class="paragraph">At a time when Bitcoin (BTC) has rallied, comfortably surpassing the $40,000 mark, JPMorgan (NYSE: JPM) CEO Jamie Dimon has continued his long-term opposition to the digital asset, suggesting that United States lawmakers should ban cryptocurrencies altogether.</p> 
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 <p class="paragraph">In this regard, Grayscale Investments CEO Michael Sonnenshein, during an interview with <em>Yahoo Finance</em> on November 7, fired back at Dimon, asserting that Bitcoin is considered a technology investment or a risk asset while affirming that the <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency is here to stay.</p> 
 <p class="paragraph">He emphasized that traditional financial institutions must adapt to the changing landscape and incorporate new technologies such as cryptocurrencies.</p> 
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  <p class="paragraph">“I think every executive, particularly in the financial services space, is going to have their own opinions on new technologies and whether that’s crypto or bitcoin specifically. But if you take a big step back, there is no question that this asset class is here to stay, that investor interest in this asset class is only growing,” Sonnenshein said.&nbsp;</p> 
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 <h2 class="wp-block-heading" id="h-dimon-s-call-to-ban-cryptocurrencies">Dimon’s call to ban cryptocurrencies&nbsp;</h2> 
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 <p class="paragraph">During a Senate appearance, Dimon strongly criticized Bitcoin and other cryptocurrencies, advocating for a ban on these digital assets. The banking executive voiced apprehensions regarding the anonymity of Bitcoin and its susceptibility to criminal activities.</p> 
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  <p class="paragraph">“I’ve always been deeply opposed to <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, bitcoin, etc. &lt;…&gt; The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance.&lt;..&gt; If I was the government, I’d <a rel="dofollow" title="close" href="https://thebittimes.com/tag/close.html">close</a> it down,” Dimon said.&nbsp;</p> 
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 <p class="paragraph">Indeed, Sonnenshein acknowledged the concerns but remained steadfast in his belief that the cryptocurrency market is here to stay, stressing the importance of financial institutions considering investor needs.</p> 
 <h2 class="wp-block-heading" id="h-bitcoin-targets-to-reclaim-44-000">Bitcoin targets to reclaim $44,000</h2> 
 <p class="paragraph">Meanwhile, Bitcoin is currently targeting the $44,000 mark, having traded in a consolidated phase throughout the year. The Bitcoin rally has been partly inspired by speculation surrounding the approval of a spot Bitcoin exchange-traded fund (ETF) by the US Securities Exchange Commission (SEC).</p> 
 <p class="paragraph">Grayscale Investments is among the entities awaiting feedback from the SEC. Sonnenshein has expressed optimism that the product will gain regulatory approval, highlighting that the increased understanding of <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies among regulators could pave the way for a Bitcoin ETF to secure approval.</p> 
 <p class="paragraph">By press time, Bitcoin was changing hands at $43,677 with daily losses of about 0.20%. Notably, the flagship <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency briefly touched the $44,000 mark for the first time since April 2022.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/grayscale-ceo-fires-back-at-jamie-dimon-s-desire-to-close-down-crypto-tbt72890.html">https://thebittimes.com/grayscale-ceo-fires-back-at-jamie-dimon-s-desire-to-close-down-crypto-tbt72890.html</a></p>

Grayscale CEO fires back at Jamie Dimon’s desire to ‘close down’ crypto

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