JP Morgan Chief in Trouble After Bitcoin Claims

Blockswater Filed a Complaint Against JP Morgan

The organization Blockswater has recorded a protest against JP Morgan CEO Jamie Dimon saying he disregarded Article 12 of the European Union's Market Abuse Regulation (MAR) by announcing that Bitcoin was "a cheat".

Blockswater claims that Dimon damaged Article 12 of the European Union's Market Abuse Regulation when he pronounced that Bitcoin was "a cheat". Dimon's remarks on Bitcoin went before a 24 percent drop in Bitcoins cost.

Blockswater overseeing accomplice Florian Schweitzer clarifies:

Jamie Dimon’s public assertions did not only affect the reputation of bitcoin, they harmed the interests of some of his own clients and many young businesses that are working hard to create a better financial system.

The grievance expresses that Dimon's announcement contrarily affected "the digital currency's cost and notoriety". Contending that he "knew, or should have known, that the data he spread was false and deluding". Blockswater goes considerably advance in their allegations, proposing JP Morgan exchanged bitcoin subordinates for their customers on Stockholm-based trade Nasdaq Nordic prior and then afterward Dimon's announcements, which Schweitzer said "smells like market control".

JP Morgan is likewise vigorously put resources into Bitcoin's blockchain innovation, having as of late publicized for blockchain administrator positions. There appears to be a level of twofold standard in Dimon's remarks, especially concerning false allegations.

The news comes that JP Morgan second from last quarter exchanging incomes will drop around 20% on a year on year premise which prompts JPMorgan's stock tumbling from its session highs.