(Bloomberg) -- Jamie Dimon told US lawmakers he would shutter the cryptocurrency industry if he had their power. “If I was the government, I’d close it down,” the chief executive officer of JPMorgan Chase & Co. said at the Senate Banking Committee’s annual Wall Street oversight hearing Wednesday.

"I've always been deeply opposed to crypto, bitcoin, et cetera," Jamie Dimon said during a Congressional hearing.

CNBC's Andrew Ross Sorkin reports on the latest news.

JPMorgan CEO Jamie Dimon ramped up his years-long opposition to bitcoin and other digital currencies on Wednesday, suggesting that lawmakers should move to ban cryptocurrency altogether. What they're saying: "If I was the government,

The billionaire Dimon testified before the Senate he’s “deeply opposed” to bitcoin and other digital currencies due to their association with illegal activity.

The JPMorgan Chase CEO lashed out at bitcoin and its peers, suggesting that cryptocurrencies should be banned.