Bank of America CEO: Crypto Payments Possible with Regulatory Approval

Bank of America CEO Brian Moynihan has revealed that U.S. banks are ready to integrate cryptocurrency for transactions, but are awaiting clear regulatory guidelines before proceeding. This indicates the financial sector’s cautious approach toward crypto adoption. In an interview with CNBC’s Squawk Box, Moynihan discussed how the banking industry’s view on cryptocurrencies might evolve, especially in light of President Donald Trump’s support for digital currencies. He emphasized that, despite the growing interest in crypto, he doesn’t consider it an immediate challenge to the U.S. dollar’s dominant position. When questioned about whether Bank of America would fully embrace the crypto business in the next one to two years, Moynihan responded that clear regulations are necessary before proceeding.