Big U.S. banks are likely to be "very afraid" of bitcoin, despite doubts from Chase CEO Jamie Dimon.

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Big U.S. banks are likely to be "very afraid" of bitcoin, despite doubts from Chase CEO Jamie Dimon.
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While the public has yet to embrace bitcoin and other cryptocurrencies, six of the world’s largest lenders have backed a project being led by Switzerland’s UBS to create a digital utility settlement coin. The lenders are Barclays, HSBC, Canadian Imperial Bank of Commerce, Credit Suisse, Boston-headquartered State Street, and Japan’s MUFG. UBS has been at …
Llew Claasen, Executive Director of The Bitcoin Foundation, has announced that the organisation has retained legal counsel to advise in its effort to fight against increasing federal and state regulation in the US. The foundation believes that increases in regulation are attempts to “control and stifle the adoption and use of so-called ‘virtual currencies’ such as Bitcoin.”
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Six additional major banks have joined the Utility Settlement Coin project.
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