Today CNBC published an interview with Daniel Pinto, co-chairman and chief operating officer of JP Morgan, where he confirmed that perhaps at some point the bank has no choice but to get involved in Bitcoin. But what is necessary?
JP Morgan could at some point adopt Bitcoin
After Tesla announced its investment in Bitcoin, the debate on whether or not other institutions should join the crypto market has rekindled.
As we noted yesterday, JP Morgan analysts said there is no reason to believe that the Tesla stock will unleash a wave of new investors.
However, customer demand may be able to generate that wave. Therefore, Daniel Pinto explained to CNBC’s Hugh Son that if Bitcoin and other cryptos go mainstream, then JP Morgan would have no choice but to get involved.
“If and when they become a widely used asset class, you will have no choice but to get involved. Customer demand is not there yet, but I’m sure it will be at some point. “
Miami Mayor’s crypto proposal approved
Do you remember that a few days ago we told you that the Mayor of Miami would work as quickly as possible to integrate Bitcoin? Well it seems that everything is going perfectly.
Today, the Miami governing commission approved the resolution that will analyze the possibility of investing government funds in the leading crypto.
As we explained previously, the Francis Suarez resolution has two key objectives: First, to allow public employees to receive part or all of their salaries in crypto. And, second, but not least, allowing taxes to be canceled using crypto.
At least for the moment, the Commission only approved studying the viability of such objectives.
India plans to ban the crypto market
According to Bloomberg, a senior Finance Ministry official reported that the bill to completely ban crypto transactions in India is highly likely to pass.
Once approved, he explained that everyone who owns crypto will have a transition period of between three and six months to conclude the activity.
In a few lines …
- BitPay, the crypto digital payments company, announced support for Apple Pay.
- Anthony Pompliano derision from Uber for not wanting to buy Bitcoin.
- Canada approved a Bitcoin ETF that will quote on the Toronto Stock Exchange.