Jamie Dimon, Chief Executive Officer, JPMorgan Chase. “Bitcoin is a fraud and will blow up,” Jamie Dimon said at an event in New York in September 2017, adding, “The currency isn’t going to work.”
Finance Minister Arun Jaitley said India does not recognise cryptocurrencies as legal tender. “Recommendations are being worked at. The government’s position is clear, we don’t recognise this as legal currency as of now,” Arun Jaitley said. Earlier in August, Arun Jaitley informed Parliament that, there are no regulations governing virtual currencies, including Bitcoins, in India and the RBI has not given any licence to any entity/company to operate such currencies.
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