Brian Moynihan believes financial institutions would gladly facilitate cryptocurrency payments if clearer regulations around their use were established.
Bank of America (BoA) CEO Brian Moynihan believes US banking institutions are willing to adopt cryptocurrency payments if proper rules are in place, signaling that the financial industry is still waiting for clearer signals from regulators before moving forward.
In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Moynihan said if proper regulations make crypto payments “a real thing,” then the “banking system will come in hard on the transactional side of it.”
In such a scenario, crypto transactions would simply be considered another payment type alongside credit cards, debit cards and Apple Pay.
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