Bank of America's CEO Brian Moynihan has indicated that the banking industry would be open to embracing crypto payments under regulatory approval, noting, "If the rules come in and make it a real thing that you can actually do business with, you'll find that the banking system will come in hard on the transactional side of it."
Moynihan highlighted Bank of America's numerous patents on blockchain technology, underscoring their preparedness to venture into the crypto space, affirming, "We know how to enter the field."
On the other hand, JPMorgan Chase CEO Jamie Dimon criticized Bitcoin, claiming it holds "no intrinsic value," whereas Coinbase CEO Brian Armstrong voiced optimism that regulations will stimulate investment in cryptocurrencies.
Prominent figures in the industry, such as Binance CEO Richard Teng, anticipate that clearer regulations will propel the crypto market to achieve a new all-time high this year, as per CNBC reports.