JPMorgan Chase chief executive officer Jamie Dimon says his personal advice is to "stay away" from cryptocurrency, but clarified he will not stop the bank from offering cryptocurrency-related financial services, Yahoo! Finance reported oFriday.

Chief executives from the largest lenders in the U.S. testified before the U.S. Senate Banking Committee Thursday to express concerns about cryptocurrencies. They include CEOs from Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley.

Dimon said his personal views are not factored into the financial services that JPMorgan offers.

"This goes back to how you have to run a business. I don't smoke marijuana but if you make it nationally legal, I'm not going to stop our people from banking it," the report quoted him as saying during the Congressional inquiry.

The price of bitcoin was at $35,747.31 as of Friday afternoon, down almost 12% in the last seven days based on figures from Coingecko.

Dimon and the other banking heads pointed to the volatility of the cryptocurrency market and its lack of supervision and oversight.

JPMorgan said cryptocurrencies are not comparable to fiat currency or gold. "Buyers beware," Dimon said, adding he was referring to cryptocurrencies, not stablecoins or blockchains.

In 2017, Dimon called bitcoin a "fraud" then months later, he said he regretted that characterization. At the time, he thought he was a believer in blockchain, the technology that makes cryptocurrencies possible.

According to Yahoo! Finance, JPMorgan Chase and its banking rivals are continuing to adopt cryptocurrency. JPMorgan is preparing to launch an actively managed bitcoin fund to wealthy private customers, CoinDesk said.