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Bank of America CEO Brian Moynihan has shared his thoughts on the future of crypto in the banking sector. Speaking in an interview with CNBC at the World Economic Forum in Davos, Switzerland, on Tuesday, Moynihan stressed that the industry is ready to embrace crypto for transactions, but only if the regulatory landscape is well-defined. Crypto Adoption Depends on Clear Rules In the discussion , the executive stated that if directives were implemented that would make it feasible to conduct business, then the industry would strongly engage. “If the rules come in and make it a real thing that you can actually do business with, you will find the banking system will come in hard on the transactional side of it,” he said. He also pointed out that these organizations would need ‘non-anonymous, verified’ transactions to move forward with crypto adoption. Further, he highlighted that BOA has already invested in blockchain technology, mentioning that it holds hundreds of patents in the area. The organization also already processes most transactions digitally. When asked whether he saw crypto and Bitcoin as a threat to the U.S. dollar, Moynihan did not express concerns. Instead, he viewed digital assets as another payment method that could be used alongside established options like Visa, Mastercard, and Apple Pay. These comments come amid ongoing caution within the sector toward crypto, largely due to regulatory uncertainties. JPMorgan Chase CEO Jamie Dimon, for example, has openly criticized Bitcoin. In a recent interview with CBS, the chief executive said the flagship cryptocurrency has no intrinsic value, adding that it is often used by criminals and fraudsters. Despite this, he has acknowledged the utility of blockchain technology and that the U.S. will one day have a digital currency. Regulatory Challenges The compliance-related challenges for U.S. banks have been compounded by the Biden administration allegedly launching “Operation Choke Point 2.0” to restrict them from developing crypto-related services. This included a policy called the SEC’s Staff Accounting Bulletin (SAB) 121. The rule required financial institutions to treat customer-held crypto as liabilities on their balance sheets, making it harder for them to offer services to such clients. As a result, many U.S. banks have either paused or slowed down any crypto initiatives they may have had. There have been unsuccessful efforts to address these barriers, including a resolution passed by the U.S. Senate last May to lift the ban on banks offering crypto custody services. Additionally, in September, a group of Republican lawmakers called for the U.S. Securities and Exchange Commission (SEC) to rescind the “disastrous” SAB 121 rule. Looking ahead, the situation may shift under the leadership of President Donald Trump, who is expected to clarify guidelines around digital assets. However, the specifics of how his administration will approach such regulation remain unclear, especially since crypto was left off the list of executive orders signed on his first day in office. The post Bank of America CEO on When Banks Will Embrace Crypto for Payments appeared first on CryptoPotato .
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Bitwise Dogecoin ETF Granted Registration in Delaware, Driving DOGE to $0.37
BITWISE DOGECOIN ETF REGISTERED IN DELAWARE ————— ????Coin: Dogecoin ( $DOGE ) $0.37 ————— NFA. Crypto Potato
Forget About Dogecoin; This Crypto Touted As The `New XRP` Is Set To Hit A 5000% Rally This Year
With Dogecoin’s price hitting a plateau following a turbulent January, numerous investors are shifting their focus to a project hailed as ‘the new XRP’ for a more dependable option. Enter Remittix, an innovative PayFi protocol with a strong mission to tackle inefficiencies in the cross-border payments arena. Currently in presale, Remittix (RTX) has already attracted over $4.7 million in investments and shows no signs of slowing down. So what makes Remittix so enticing, and where might Dogecoin be headed by 2025? Dogecoin (DOGE) Experiences 4% Decline After Sharp Uptick Dogecoin (DOGE) witnessed notable price swings as Trump took office on the morning of January 20th, climbing from $0.36 to $0.38 within just 30 minutes. However, Dogecoin (DOGE) enthusiasts were disappointed when the currency swiftly declined, dropping to $0.35 by 5:45 pm. As of now, Dogecoin (DOGE) has fallen further, resting at $0.34, and the outlook isn`t promising for our canine-themed coin. The asset received extensive hype leading up to Trump`s induction, mainly due to the drama involving Trump, Musk, and the formation of the Department of Governmental Efficiency (DOGE). For now, it seems Trump`s inauguration hasn`t had a positive impact on Dogecoin; if anything, it`s been detrimental. How Remittix Enhances The Cross-Border Payment Sector The current international payment systems are riddled with inefficiencies, and Remittix (RTX) has entered the PayFi sector to tackle these challenges directly. Its platform allows for the straightforward conversion of over 40 cryptocurrencies into fiat, facilitating transfers to bank accounts around the globe. Transfers are typically completed within 24 hours, providing a quick and convenient solution for users needing fast access to funds, whether in global markets or for frequent cross-border transactions. For business users, the Remittix Pay API simplifies the process of accepting cryptocurrency payments and enables conversion into fiat. Merchants can benefit from specialized accounts to manage more than 50 crypto pairs and 40 fiat currencies, offering them versatility and control in the expanding digital market. Security and privacy are integral to Remittix’s (RTX) framework. Transactions conducted via the platform appear in recipients’ bank accounts as regular transfers, masking any link to cryptocurrency. This focus on confidentiality has been well-received by users who want to enjoy blockchain benefits without drawing unwanted attention. Moreover, Remittix’s smart contracts have passed rigorous audits, further enhancing trust in the project. The trust from users and investors highlights the platform’s commitment to delivering dependable service. Early Investors Embrace RTX Tokens At its heart, the RTX token fuels the Remittix ecosystem, playing essential roles in governance, staking, and rewards. During the presale , Remittix (RTX) has already raised over $4.7 million, with tokens priced at just $0.0256. Analysts forecast an 800% increase in value during the presale and anticipate further growth post-launch, generating significant enthusiasm. As the platform establishes itself in the cross-border payments sector, it`s poised to become a major player in the PayFi industry by 2025. Discover the future of PayFi with Remittix by checking out their presale here: Website: https://remittix.io/ Socials: https://linktr.ee/remittix Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Bitzo, nor is it intended to be used as legal, tax, investment, or financial advice. Crypto Potato
