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JPMorgan Chase examining bitcoin futures

JPMorgan Chase is examining the use of bitcoin for futures contracts. The bank, a known critic of the cryptocurrency, s weighing whether it can help its customers bet on the price of bitcoin via the CME Group’s proposed futures contracts. CME Group is readying to offer bitcoin futures by year-end. JPMorgan’s CEO Jamie Dimon has been one of bitcoin’s most prominent detractors, calling it a fraud and deriding buyers as stupid. However, the bank’s finance chief Marianne Lake had said the bank is ‘open minded’ to the potential uses for digital currencies so long as they are properly regulated. JPMorgan already allows clients some access to bitcoin through an exchange-traded note, which involves routing their orders to exchanges.

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