Tech & Telecom Law News

Facebook’s Libra Is ‘Neat Idea That’ll Never Happen,’ Dimon Says

Oct. 18, 2019, 6:25 PM

Count the chief of the biggest U.S. bank among doubters of Facebook Inc.’s effort to create a cryptocurrency.

“It was a neat idea that’ll never happen,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said Friday on a panel at a conference hosted by the Institute of International Finance in Washington.

JPMorgan’s Dimon participates in a panel at an IFF conference in Washington.

Dimon said the idea wasn’t particularly unique and pointed to his own firm’s stablecoin, JPM Coin. The Libra Association, the group that will oversee the digital currency, took a blow last week when several key partners, including Mastercard Inc., Visa Inc. and EBay Inc.,...

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