Bank of America Maintains Cautious Stance on Stablecoins Amid Regulatory Uncertainty

Bank of America CEO Brian Moynihan reiterated the institution's hesitant approach toward stablecoin adoption during Wednesday's earnings call. Regulatory ambiguity and unproven business value remain key deterrents, despite competitors like JPMorgan and Citi advancing exploratory initiatives.

"The business cases for it as incremental value are still to be proven, frankly," Moynihan stated, noting minimal client demand for such offerings. Congressional deadlock on crypto legislation continues to delay clarity, forcing major financial players to adopt wait-and-see positions.

While acknowledging extensive internal research, Moynihan emphasized that any future movement WOULD require established legal frameworks and demonstrable market need. This contrasts with his more optimistic February remarks, highlighting how regulatory stagnation is reshaping institutional timelines.