The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto. “The reality is that we can’t do it by regulation," il a dit.
Bank of America’s CEO on Crypto
Un dirigeant de Bank of America considère la crypto comme une classe d'actifs (BIEN) CEO Brian Moynihan talked about cryptocurrency in an interview with Yahoo Finance Live at the recent World Economic Forum event in Davos, published Saturday.
He was asked about his bank’s plans for cryptocurrencies. “The reality is that we run a payments business across our platform. It’s trillions of dollars a day, and almost all of it is digital,” the executive replied, ajouter:
If you think about the blockchain, we have hundreds of patents on blockchain as a process and as a tool and as a technology.
pourtant, with regard to cryptocurrency, he revealed: “We’re not engaging in accounts for people in cryptocurrency … we’re not allowed to, frankly.”
The Bank of America chief explained: “Because we’re regulated and they [regulators] have said you can’t. They’ve said, ‘you have to ask us before you do it and, by the way, don’t ask’ — was basically the tone.” He emphasized:
The reality is that we can’t do it by regulation. We’re not really allowed to engage.
pourtant, Moynihan clarified: “On the trading side, we could do it. Our research team writes on it.”
Bank of America’s research team has been actively publishing reports on cryptocurrencies. The bank formally established a équipe de recherche sur les crypto-monnaies in July last year. In October, the research team debuted a lengthy report stating that digital assets are “Je suis venu à la façon dont cela pourrait avoir une valeur en tant que réserve mondiale de valeur.” The bank also sees a massive opportunity in the metaverse for the entire crypto ecosystem.
The Bank of America CEO was also asked if he feels like he is missing out on the next big thing. “No,” Moynihan simply replied.
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