- JPMorgan has appointed a new digital assets regulatory policy director, Aaron Lovine.
- Lovine worked for Celsius as head of policy and regulatory relations for eight months.
- Top executives of JPMorgan are notorious crypto skeptics.
In light of growing regulatory scrutiny, JPMorgan, a UK-based financial company, is expanding its policy ranks in the digital asset industry.
According to a report by Bloomberg Law on Wednesday, JPMorgan has appointed a new digital assets regulatory policy director, Aaron Lovine. A JPMorgan spokesperson confirmed that Lovine joined the business last week as the head of the newly formed position.
Interestingly, the appointment comes barely a month after its CEO Jamie Dimon said cryptocurrencies are “decentralized Ponzi schemes” before a US congress last month. JPMorgan CEO prides himself as a “major skeptic on crypto tokens,” while on the other hand, the company’s global head of payments believes that the demand for crypto as payment is “extremely small.”
Furthermore, the newly appointed director of digital asset policy previously served as the head of policy and regulation of the embattled crypto lender Celsius Network Ltd. Along with hiring Lovine this month, JPMorgan also advertised a position for a digital assets counsel with its corporate and investment bank in New York.
In related news, two days ago, the US-based crypto exchange Coinbase appointed top fintech executive Daniel Seifert as its new Regional Managing Director for its European division. Before the new appointment, Seifert served as the chief operating officer (COO) of Solarisbank.
The Vice President of Coinbase’s International and Business Development division said:
International expansion is an existential priority for us, whether it’s a bull market or bear market, that’s where most of our upside is
Reportedly, Coinbase is now searching for regulatory permissions in France and Spain following authorization in the Netherlands last month. The Coinbase VP added that they are also seeking registration and holding discussions in Ireland and the UK.
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