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.
Tags in this story Bank of America, bank of america bitcoin, bank of america crypto, bank of america cryptocurrency, Blockchain Patents, BOA, Brian Moynihan, Brian Moynihan blockchain, Brian Moynihan crypto, Brian Moynihan cryptocurrency, Davos
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