The CEO of Bank of America Brian Moynihan claims that his banks possess hundreds of blockchain rights but laws prevent them from engaging in cryptocurrency trading. The fact is that we can’t achieve it by laws.
Bank of America (BOA) CEO Brian Moynihan discussed cryptocurrency at a World Economic Forum session in Davos with Yahoo Finance Live, which was released on May 28th, Saturday.
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Bank of America CEO on Cryptocurrency
He was questioned about his bank’s cryptocurrency objectives. The CEO responded,
” When it comes to blockchain, we have number of patents on blockchain as, a tool, a method and a technology.”
Bank of America CEO stated in terms of bitcoin,
“We’re not allowed and also not engaged in accounts for individuals in cryptocurrency.”
Bank Of America research on Cryptocurrency
The research team at Bank of America has been busy generating reports on cryptocurrency. Last July, the bank formally launched a cryptocurrency research unit. The research team released a long paper in October claiming that digital assets are too huge to ignore. The bank also sees a huge possibility for the broader crypto industry in the metaverse.
The CEO of Bank of America said “no” when he was questioned if he worries about lacking out on the next great thing.
