Bank of America CEO Brian Moynihan stated that U.S. banks are open to using cryptocurrencies for payments, contingent upon clearer regulations from authorities. In an interview, he emphasized that banks are already digitally transferring money and have been studying blockchain technology for years. Moynihan remarked that if regulations establish a viable framework for business operations involving cryptocurrencies, banks would actively engage in that space. His comments coincide with the establishment of a new crypto task force by the SEC, aimed at creating a sensible regulatory path for the industry. Commenting on stablecoins, especially those backed by the dollar, Moynihan noted the legislative focus on ensuring better control over this segment of cryptocurrency. While he refrained from discussing investments in cryptocurrency, he acknowledged the potential use cases for digital assets.

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