• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

by January 22, 2025
written by January 22, 2025

Bank of America CEO Brian Moynihan said Tuesday that the U.S. banking industry will embrace cryptocurrencies for payments if regulators allow it.

The head of the second largest U.S. bank by assets was asked by CNBC’s Andrew Ross Sorkin about how the industry’s approach to crypto could change given President Donald Trump’s enthusiasm for digital currencies.

“If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it,” Moynihan said in an interview at the World Economic Forum in Davos, Switzerland.

American banks have largely avoided letting customers use crypto for retail transactions, although their institutional trading and wealth management arms have participated in markets for bitcoin ETFs. Leaders in the industry, including JPMorgan Chase CEO Jamie Dimon, have lambasted bitcoin as a currency for criminals and fraudsters.

“If you go down the street here and you go in and buy lunch, right, if you can pay with Visa, Mastercard, a debit card, Apple Pay, etc, this would just be another form of payment,” Moynihan explained. “We have hundreds of patents on blockchain already, we know how to enter the field.”

The veteran Bank of America CEO didn’t address the idea of cryptocurrencies like bitcoin as an investment or store of value, saying it is “really a separate question.”

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Nearly all of DC shut down for Trump’s inauguration. So why was there no designated survivor?
next post
‘Moana 2’ tops $1 billion, extending Disney’s box office domination

related articles

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025

Trump says U.S. will impose new tariffs on...

September 29, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

Amazon to pay $2.5 billion to settle FTC...

September 27, 2025

The charm of watching movies in theaters is...

September 25, 2025

Ben & Jerry’s co-founder resigns, claiming parent company...

September 18, 2025

LimeWire acquires Fyre Festival, asking ‘What Could Possibly...

September 17, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Germany to remove Huawei and ZTE from 5G networks by 2029 over security concerns

    July 11, 2024
  • Biden preparing to block U.S. Steel sale to Japanese company

    September 6, 2024
  • House vote imminent on plan to avert government shutdown

    December 20, 2024
  • Legal experts warn that latest Supreme Court leaks are ‘enormously destructive’

    September 16, 2024
  • Celebrities have ‘incredibly powerful’ ability to influence election: Harvard study

    August 15, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Trump confirms he told Netanyahu to back off Iran strikes amid nuclear talks

    May 28, 2025
  • China reportedly building ‘D-Day’-style barges as fears of Taiwan invasion rise

    January 14, 2025
  • Lone Republican becomes only lawmaker to vote against crackdown on human organ trafficking

    May 8, 2025

Recent Posts

  • Early voting means ‘election season’ has already kicked off

    September 6, 2024
  • Karine Jean-Pierre ripped over ‘firing squad’ recap of Biden’s exit from race: ‘Still doesn’t understand’

    February 28, 2025
  • White House pushes back forcefully on Epstein file criticism: ‘Asinine suggestion’

    July 17, 2025

Editor’s Pick

  • House Democrat leaves congressional DOGE caucus, saying Musk is ‘blowing things up’

    February 7, 2025
  • Trump-aligned group sues Chief Justice John Roberts in effort to restrict power of the courts

    May 5, 2025
  • House Dems threaten to block Trump’s big tariff plans: ‘Unacceptable’

    January 17, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock