U.S. megabank JP Morgan allows customers to purchase Bitcoin.

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## Emphasis on Customer Choice Freedom

According to a report by CNBC on the 19th, Jamie Dimon, CEO of the largest U.S. bank JP Morgan, announced during the annual investor meeting on Monday that they will allow customers to purchase Bitcoin (BTC). Dimon explained, "We will permit customers to buy Bitcoin. However, we will not store it; it will only be reflected in the customers' transaction statements."

This decision represents a notable turnaround for JP Morgan, considering that Mr. Diamond has criticized Bitcoin and the cryptocurrency market for many years. The firm is currently considering providing customer access to Bitcoin ETFs and plans to expand its cryptocurrency exposure, which has so far been limited to futures-based products.

Mr. Daimon made it clear that there has been no change in his personal view on Bitcoin and continued to point out issues such as money laundering and misuse for terrorist activities. "I do not advocate smoking, but I defend the right to smoke. Similarly, I defend the right to buy Bitcoin," he stated, once again demonstrating his stance on the importance of customer choice.

Since President Trump took office in January, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have withdrawn their anti-cryptocurrency guidance, and the FRB has partially followed suit. The abolition of the accounting rule "SAB 121" has allowed banks to store cryptocurrencies, but there are still certain restrictions on direct transactions with digital asset companies.

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