Bank of America (BOA) CEO Brian Moynihan spoke about cryptocurrency during a meeting with Yahoo Finance Live during the current World Economic Forum occasion in Davos, which was released on Saturday.
He was asked about his bank &#x 2019; prepare for cryptocurrencies. “The truth is, we have a refund service throughout our system. It’s 2019; s trillions of dollars a day, and almost everything is electronic too, &#x 201D; the exec responded, including:
If you look at the blockchain, we have hundreds of patents on blockchain as a procedure and also as a device and also as an innovation.
However, regarding cryptocurrency, he revealed: &#x 201C;We &#x 2019; are not interesting to represent individuals in cryptocurrency &#x 2026; we &#x 2019; not allowed, truthfully. ”
The Bank of America CEO discussed: &#x 201C;Because we &#x 2019; rechecked and they too [regulators] stated that you &#x 2019; t. She &#x 2019; have stated, &#x 2018; you have to ask us before you do it and besides you wear &#x 2019; don’t ask &#x 2019; — was essentially the tone. ” He emphasized:
The truth is that we &#x 2019; t do it by regulation. We &#x 2019; it is not actually allowed to participate.
Bank of America 2019; The research group’s research group has in fact proactively released data on cryptocurrencies. The bank officially developed a cryptocurrency research group in July 2015. In October, the research group debuted a comprehensive report specifying that electronic properties &#x 201C; also great to ignore. ” The bank also sees a huge opportunity in the metaverse for the entire crypto community.
The CEO of the Bank of America was also asked if he seems to be missing the next important point. &#x 201C;No, &#x 201D; Moynihan just responded.
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