2 years ago
The CEO of Bank of America says that his slope has hundreds of blockchain patents but regulations volition not let it to prosecute successful crypto. “The world is that we can’t bash it by regulation,” helium said.
Bank of America’s CEO connected Crypto
Bank of America (BOA) CEO Brian Moynihan talked astir cryptocurrency successful an interrogation with Yahoo Finance Live astatine the caller World Economic Forum lawsuit successful Davos, published Saturday.
He was asked astir his bank’s plans for cryptocurrencies. “The world is that we tally a payments concern crossed our platform. It’s trillions of dollars a day, and astir each of it is digital,” the enforcement replied, adding:
If you deliberation astir the blockchain, we person hundreds of patents connected blockchain arsenic a process and arsenic a instrumentality and arsenic a technology.
However, with respect to cryptocurrency, helium revealed: “We’re not engaging successful accounts for radical successful cryptocurrency … we’re not allowed to, frankly.”
The Bank of America main explained: “Because we’re regulated and they [regulators] person said you can’t. They’ve said, ‘you person to inquire america earlier you bash it and, by the way, don’t ask’ — was fundamentally the tone.” He emphasized:
The world is that we can’t bash it by regulation. We’re not truly allowed to engage.
However, Moynihan clarified: “On the trading side, we could bash it. Our probe squad writes connected it.”
Bank of America’s probe squad has been actively publishing reports connected cryptocurrencies. The slope formally established a cryptocurrency probe team successful July past year. In October, the probe squad debuted a lengthy study stating that integer assets are “too ample to ignore.” The slope besides sees a monolithic opportunity successful the metaverse for the full crypto ecosystem.
The Bank of America CEO was besides asked if helium feels similar helium is missing retired connected the adjacent large thing. “No,” Moynihan simply replied.
What bash you deliberation astir the comments by Bank of America CEO Brian Moynihan? Let america cognize successful the comments conception below.
English (US) 