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The CEO of a US Bank stated that due to regulatory uncertainty and limited demand, the stablecoin plan is being postponed.
BlockBeats News, July 17th. According to Decrypt, Bank of America CEO Brian Moynihan reiterated the bank's cautious stance on stablecoins during a Wednesday earnings call, citing the unclear regulatory environment and insufficient customer demand. While the bank has "done a lot of work" studying stablecoins, Moynihan emphasized that adoption will depend on a clear legal framework and actual need.
In previous news, Reuters reported that Bank of America CEO Brian Moynihan stated that the bank is preparing to launch a stablecoin, and investors can expect Bank of America to take action in the cryptocurrency field, but Brian Moynihan did not provide a specific timeline.
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