Post
Topic
Board Bitcoin Discussion
Re: Is Bank of America Scared ? Seems so
by
aso118
on 26/02/2018, 23:15:37 UTC
See
https://www.coindesk.com/bank-of-america-cryptocurrency-risk-factor-annual-report-10-k/

Seems that they are somewhat scared by the competition of crypto...


"In a passage about new competitors in the financial services industry, Bank of America expressed caution about how client preferences could lead them to use products like cryptocurrencies - for which, as it stands, the bank does not offer any support."..

Sounds like it..
Cheers

When banks publish 10Ks, they try to highlight almost all the risk factors that they envisage, whether material or immaterial. Not doing so could open them to litigation in the future. That is why Bank of America seems to have flagged this risk, even though they might not pay much importance to it. You can expect all banks to publish such paragraphs going forward in their 10Ks.