JPMorgan Chase & Co. has hired a new head of digital assets regulatory policy, less than a month after CEO Jamie Dimon told lawmakers that cryptocurrencies are “decentralized Ponzi schemes.”
Aaron Iovine joined the company this week as executive director for digital assets regulatory policy, a newly created role, a JPMorgan spokeswoman confirmed. He was previously head of policy and regulatory for cryptocurrency lender Celsius Network Ltd., whose bankruptcy filing has roiled the digital asset market.
JPMorgan is looking to build out its policy ranks in the evolving digital asset space amid increased regulatory scrutiny and a downturn in cryptocurrency values.
Iovine didn’t respond to a comment request.
Dimon and other JPMorgan executives have been vocal critics of digital assets.
Dimon’s “Ponzi schemes” comment came Sept. 21 in congressional testimony, during which he called himself a “major skeptic on crypto tokens.” Takis Georgakopoulos, global head of payments at JPMorgan, told Bloomberg Television last month that he sees “very little” demand for cryptocurrencies as a payment tool.
In addition to hiring Iovine, JPMorgan this month posted an opening for a digital assets counsel position with its corporate and investment bank.
Stacey Friedman, who has been JPMorgan’s general counsel since 2015, didn’t respond…
