Bank of America has no plans to offer crypto services

Bank of America has no plans to offer crypto services
Photo by Jonathan Cooper / Unsplash

BofA CEO Moynihan said that the company will not offer services related to cryptocurrency in the near future.  However, he acknowledged the importance of digital payments in today's economy.

According to Moynihan, the main obstacle to the crypto industry is regulatory problems. The SEC is suspicious of companies offering cryptocurrency lending, for example. Therefore, the regulator can "strike next" at any moment.