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JPMorgan will allow trading and wealth-management clients to use cryptocurrency-linked assets as collateral for loans, starting with BlackRock's iShares Bitcoin Trust. The bank will also consider clients' crypto holdings when assessing their overall net worth and liquid assets, similar to stocks, cars, or art.
“I don’t think we should smoke, but I defend your right to smoke,” Dimon said at the time. “I defend your right to buy Bitcoin, go at it.”
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