EddieJayonCrypto
22 Jan 25
Bank of America CEO Brian Moynihan expressed that US banks are ready to offer crypto payment services if federal regulators approve. In an interview at the World Economic Forum, Moynihan stated that if regulations allow, banks will engage in cryptocurrency transactions and see it as a potential form...
Bank of America CEO Brian Moynihan anticipates US banks to offer crypto payment services pending regulatory approval, expressing confidence in the potential for crypto to become a mainstream form of payment. In an interview at the World Economic Forum, Moynihan stated that if regulations allow, banks will engage in cryptocurrency transactions and see it as a potential form of everyday payment. He believes that the banking system is prepared for this and mentioned the expectation of regulatory changes under President Trump's administration to embrace digital assets. However, the specific actions are yet to be seen, as crypto was not included in the executive orders signed by President Biden. Reports suggest that Trump may issue an executive order to permit banks to hold Bitcoin and other crypto assets for clients.
Bank of America CEO Brian Moynihan says US banks will start providing crypto payment services if federal regulators ever approve it. In a new interview with CNBC at the World Economic Forum in Davos, Switzerland, Moynihan says US banks are prepared to start offering crypto services if US President Donald Trump’s administration gives the go-ahead. The CEO of the second largest US bank by assets under management believes crypto could be used as a form of payment for everyday transactions, which the American banks would facilitate. The Washington Post reported earlier this month that Trump may issue an executive order to allow banks and financial institutions to hold Bitcoin (BTC) and crypto assets on behalf of their clients.