Brian Moynihan, the CEO of Bank of America, stated in an interview with CNBC on Tuesday at the World Economic Forum (WEF) in Davos, Switzerland, that the U.S. banking industry would accept cryptocurrencies as a means of payment if regulators allowed it.
As the head of the second-largest bank in the United States by assets, Moynihan was asked how the banking sector’s attitude toward cryptocurrencies might change in light of U.S. President Donald Trump’s enthusiasm for digital currencies. He responded, “If the relevant rules come out and make it something that can be used commercially, you will find the banking system heavily engaged at the transactional level.”
However, Moynihan did not discuss the idea of cryptocurrencies like Bitcoin as investment or store of value tools, stating that this is a “completely different issue.”
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