Why Bank of America won’t be rushing into crypto anytime soon
- Date: 29-May-2022
- Source: Yahoo News
- Sector:Financial Services
- Country:Middle East
Why Bank of America won’t be rushing into crypto anytime soon
DAVOS, Switzerland — The crypto faithful shouldn't expect Bank of America to make a major push into the sector anytime soon.
"No," replied Bank of America CEO Brian T. Moynihan when Yahoo Finance Live asked him at the World Economic Forum whether he felt like the company was missing out on the next big thing by not aggressively moving into crypto (full interview above).
Moynihan — who has driven a major digital banking transformation as BofA's CEO for the last 12 years — explained the bank is heavily regulated and that prevents an all-in maneuver into crypto.
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