The report, dated February 22 and filed with the US Securities and Exchange Commission (SEC), listed a series of economic, geopolitical and operational risks facing the Charlotte-based bank, NC, in its new year. fiscal. For the first time, the growing adoption of cryptocurrencies made the list.
"Emerging technologies, such as cryptocurrencies, could limit our ability to track the movement of funds. Our ability to comply with these laws depends on our ability to improve detection and information capabilities and reduce variation in control processes and oversight responsibility" .
Bank of America has quietly requested dozens of patents related to cryptocurrencies over the years. However, the bank has so far refused to develop these technologies in functional products and has publicly expressed that the widespread use of cryptocurrencies is unlikely to occur.
Personal Opinion
We are at the forefront of a new technological revolution and if they do not enter the game they probably disappear