Bank of America CEO Brian Moynihan 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 form of payment if regulators allow it.
As the head of the second-largest bank in the United States by assets, Moynihan was asked how the banking industry’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 a real thing that can be used commercially, you will find that the banking system will heavily invest at the transactional level.”
However, Moynihan did not discuss the idea of cryptocurrencies like Bitcoin as investments or stores of value, stating that this is a “completely different issue.”