Bloomberg reported on Wednesday that a former employee of the defunct cryptocurrency company Celsius Network has been hired as the new head of regulatory policy for digital assets at JPMorgan Chase & Co. A JPMorgan spokeswoman confirmed the report.
The article stated that Aaron Iovine joined JPMorgan Chase this week as executive director for digital assets regulatory policy, noting that the new position was just created. Iovine will cooperate with JPMorgan’s department of regulatory affairs. According to his LinkedIn profile,
“I have experience working with digital asset companies, fintechs, payments companies, and legacy financial institutions.”
“My policy experience includes issues related to crypto licensing requirements, crypto lending and earn products, stablecoin regulation, BSA/AML/KYC standards, bank-fintech partnership agreements, real-time payments, cybersecurity standards, third-party risk management, AI/ML, and a number of consumer financial regulations,” the executive’s Linkedin profile further reads.
JPMorgan also announced an opening for a position as a digital assets counsel with its corporate and investment bank in New York this month.
Jamie Dimon, CEO of JPMorgan, has kept up his criticism of cryptocurrencies like bitcoin. He informed the United States. He has consistently cautioned about investing in cryptocurrencies, underlining that they have no fundamental value. Then, and said that crypto tokens, like bitcoin, are “decentralized Ponzi schemes” when he told Congress that they are in September.
The JPMorgan CEO, however, thinks that blockchain technology and decentralized finance (defi) are real.