Bank of America CEO Brian Moynihan said Tuesday that the U.S. banking industry will embrace cryptocurrencies for payments if regulators allow it.

Bank of America CEO Brian Moynihan reportedly said on Tuesday that the banking industry will accept cryptocurrencies for payments if regulators permit their usage. “If the rules come in and make it a real thing that you can actually do business with,

Bank of America CEO Brian Moynihan says US banks will start providing crypto payment services if federal regulators ever approve it.

From a purely business perspective, banks and other financial institutions would jump into cryptocurrency payments if proper regulations allowed it, according to BoA CEO Brian Moynihan.

Donald Trump's second term as U.S. president will draw a lot of investment into crypto, the CEO of Coinbase told a panel discussion at the World Economic Forum in Davos. "The Trump effect cannot be denied.

Bank of America Corp (NYSE: BAC) chief executive Brian Moynihan says the Wall Street banks are all geared up to embrace cryptocurrencies – all they need is a push from the US regulatory authorities. His comment follows the inauguration of Donald Trump who’s been rather vocal in favour of the crypto industry.

The new Trump presidency could bring lots of new money into the cryptocurrency market, according to the CEO of crypto exchange platform Coinbase (COIN).