Post
Topic
Board Bitcoin Discussion
Re: Is Bank of America Scared ? Seems so
by
kingkats0803
on 02/03/2018, 09:07:52 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

it is not in the best interests of bank to embrace cryptocurrency, it is a competition. on the other hand, it is also not in the best interest and benefits fo the banks not to embrace cryptocurrency.
Many are using cryptocurrency nowadays and it is making its waves and influence in the global market. So I believe it would be a little careless if they don't make any moves to incorporate Cryptos in their roadmaps. It is better to regulate it rather than compete with it, they can't beat cryptos