Bank Of America Cryptocurrency. Cryptocurrencies challenge the ability of governments to levy. Bank of america's cto says cryptocurrencies are troubling because they are not transparent.

Bank of america in his annual report to sec admits that increasing cryptocurrency adoption are posing a threat to the financial institutions.

Bank of america, citigroup and jpmorgan chase have banned purchases of cryptocurrency on their credit cards, starting february. Bank of america's cto says cryptocurrencies are troubling because they are not transparent. Bank of america says the only good reason for holding bitcoin is 'sheer price appreciation'. Earlier this week, it was reported that goldman sachs had made its first hire in its. It would essentially work in. Banks that offer cryptocurrency services can develop a profitable business model around this type of service. Bank of america announced friday that it would begin flagging and declining transactions made with credit cards to known cryptocurrency customers will still be able to purchase cryptocurrencies with bank of america accounts tied to debit or atm cards, a spokeswoman told the hill. Banks have shown a keen interest in the blockchain and cryptocurrency technologies over the past couple of years. Bank of america in his annual report to sec admits that increasing cryptocurrency adoption are posing a threat to the financial institutions. A few traditional finance players, like bank of america and nomura, have announced plans to enter this space, but no bank has yet established a dominant presence. But bank of america corp.'s (bac) chief technology officer, cathy bessant, finds the prospect troubling. according to her, the relative lack of transparency in cryptocurrency ecosystems could prove to be a.