Jamie Dimon and the crypto world agree 'debanking' needs to be fixed — but for different reasons

Published On Jan 25, 2025, 9:16 AM

Jamie Dimon, CEO of JPMorgan Chase, addresses the controversial issue of 'debanking', where banks close accounts for certain clients, often linked to political or ideological reasons. He argues that banking regulations, not politics, influence these decisions, insisting that banks must mitigate risks associated with clients considered 'high-risk' due to laws aimed at preventing crime. Meanwhile, there is increasing scrutiny over this practice, particularly in relation to the digital asset sector, highlighted by congressional inquiries into whether these actions are due to financial institutions or government influence. Trump's administration aims to ensure fair access to banking services, particularly for the digital assets industry.