What it's solving is a way to avoid detection in moving money in our society and transferring value from one person to another, McKay said.
TORONTO: The chief executive of Canada's biggest lender on Thursday pushed back on a suggestion by JPMorgan chief executive Jamie Dimon that bitcoin is a fraud, though he said the cryptocurrency needs monitoring.
Speaking at a Reuters Newsmaker event in Toronto, Dave McKay, CEO of Royal Bank of Canada, said: "Has Bitcoin misrepresented what it is? No.
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