Bank of US includes crypto caution in annual report

according to Management, or at least the lawyers at Bank of US (NYSE:BAC) are taking bitcoin seriously, adding cryptocurrencies to the list of "risk factors" in the bank's latest 10-K."The widespread adoption of fresh technologies, involving net services, cryptocurrencies & payment systems, can require substantial expenditures to modify or adapt our existing products & services." BofA Information Systems between those leading institutions which have blocked customers from Utilizing plastic to invest in cryptos. Its wealth-management clients are too restricted from these types of investments. Bitcoin this day Information Systems up 4.7% to $10,310. Related tickers: OTCQX:GBTC, COIN, RIOT, OSTK, SSC, MARA, UEPS, OTC:BITCF, XNET, GROW, OTCPK:BTSC, OTCQB:BTCS, OTCQB:MGTI, OTCPK:BTLLF SRAX, OTCPK:GAHC, OTC:ARSC, OTCPK:USTC, OTCPK:BLKCF, COINB, LFIN

Bank of US only showed the method terrified Wall Street Information Systems of cryptocurrencies (BAC)

REUTERS/Brendan McDermidBank of US mentioned cryptocurrencies in a regulatory danger filing for the 1st time late Thursday. The company warned which cryptocurrencies can undermine many of its services, & which customers perhaps go elsewhere if the company fails to adapt. Bank of US has warned which cryptocurrencies can potentially undermine its entire business, the company told Friday. Bank of US too expressed worry about the regulatory consequences of cryptocurrencies. Many financial institutions, involving Bank of America, have blocked customers from Utilizing credit cards to buy cryptocurrencies, telling they have to Utilize debit cards connected to checking accounts.

Bank of US Admits Bitcoin Information Systems a menace in SEC Report

according to In an annual filing to the safety & interchange Commission, America's second-largest bank has expressed fears over cryptocurrency's possibility to undermine the control of great banks. Making things difficultIt has long been speculated which Bitcoin & other cryptocurrencies pose a menace to great banks & traditional financial institutions. Now, Bank of US admits it can be forced to bargain by the "substantial" costs associated by the developing market. The mistake — which Visa originally blamed on the common cryptocurrency interchange — drained many customers' accounts & caused many a headache. Do you think Bank of US ought be afraid of Bitcoin & cryptocurrency?

collected by :Irax John