Bank of America to Explore Stablecoins Pending Crypto Legislation, CEO Says

Bank of America CEO Brian Moynihan signaled the institution''s readiness to engage with stablecoins once clear regulatory frameworks emerge. Speaking at a Morgan Stanley conference, Moynihan emphasized that banking regulations previously created uncertainty about digital asset participation.

The bank has reportedly considered launching its own stablecoin since February, but awaits passage of either the Genius Act or Stable Act alongside market infrastructure reforms. "These legislative measures will determine if stablecoins present a viable business opportunity," Moynihan stated.

Wall Street''s growing recognition of stablecoins'' transformative potential coincides with bipartisan support for crypto legislation. This development occurs despite Bank of America forecasting a 20%+ decline in Q2 investment banking revenue, offset by modest trading gains.