Bank of America CEO Brian Moynihan stated that the U.S. banking industry would embrace cryptocurrencies for payments if regulators allowed it. He mentioned that if the rules were established, banks would come in hard on the transactional side of crypto. American banks have largely refrained from allowing retail transactions with crypto but participate in bitcoin ETFs. Moynihan highlighted that crypto could become another payment method alongside traditional options, without discussing it as an investment or store of value. This announcement suggests a potential shift in mainstream financial institutions' approach to digital assets and increased interest in integrating crypto into traditional payment systems.



Other News from Today