JPMorgan Hires Former Executive of Bankrupt Crypto Firm as Head of Digital Assets Regulatory Policy

JPMorgan Chase & Co. has hired bankrupt crypto lender Celsius Network’s erstwhile caput of argumentation and regulatory affairs arsenic its caller caput of integer assets regulatory policy. The determination followed JPMorgan CEO Jamie Dimon telling U.S. Congress that crypto tokens, similar bitcoin, are “decentralized Ponzi schemes.”

JPMorgan Chase Hires Head of Digital Assets Regulatory Policy

JPMorgan Chase & Co. has hired a caller caput of integer assets regulatory argumentation who antecedently worked astatine the bankrupt crypto steadfast Celsius Network, Bloomberg reported Wednesday, noting that a JPMorgan spokeswoman has confirmed the story.

Aaron Iovine joined JPMorgan Chase this week arsenic enforcement manager for integer assets regulatory policy, the work conveyed, adding that the caller relation was precocious created. Iovine volition enactment with JPMorgan’s regulatory affairs group. His Linkedin illustration states:

I person acquisition moving with integer plus companies, fintechs, payments companies, and bequest fiscal institutions.

“My argumentation acquisition includes issues related to crypto licensing requirements, crypto lending and gain products, stablecoin regulation, BSA/AML/KYC standards, bank-fintech concern agreements, real-time payments, cybersecurity standards, third-party hazard management, AI/ML, and a fig of user fiscal regulations,” the executive’s Linkedin illustration further reads.

This month, JPMorgan besides posted an opening for a integer assets counsel presumption with its firm and concern slope successful New York.

Meanwhile, JPMorgan CEO Jamie Dimon has continued to explicit his disapproval of bitcoin and crypto. He told U.S. Congress successful September that crypto tokens, similar bitcoin, are “decentralized Ponzi schemes.” He has besides repeatedly warned astir investing successful cryptocurrencies, stressing that they person nary intrinsic value. However, the JPMorgan brag believes that decentralized concern (defi) and blockchain are real.

Iovine Was Head of Regulatory Policy for Bankrupt Crypto Lender Celsius Network

Iovine antecedently served arsenic caput of argumentation and regulatory affairs astatine Celsius Network Ltd., the crypto lender that filed for Chapter 11 bankruptcy successful July.

Celsius hired Iovine successful February from Cross River Bank wherever helium led argumentation and regulatory affairs. Prior to joining Cross River Bank successful 2019, Iovine spent astir a twelvemonth arsenic a elder regulatory expert astatine the instrumentality steadfast White & Case.

Iovine near Celsius successful September, 2 months aft the lender filed for bankruptcy. His sanction is listed among thousands of unsecured creditors with claims against the crypto firm. Earlier this month, the bankruptcy tribunal published a papers detailing Celsius lawsuit usernames and commercialized history.

What bash you deliberation astir JPMorgan hiring a erstwhile Celsius caput of argumentation arsenic its caller caput of integer assets regulatory policy? Let america cognize successful the comments conception below.

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