CEO Bank of America: It's still too early to implement Stablecoin due to unclear U.S. regulations

Brian Moynihan, CEO #BankOfAmerica , reiterated the bank's cautious approach to stablecoin, citing unclear regulatory reasons and uncertain customer demand. This statement contrasts with other major banks like Citi and JPMorgan, which are actively exploring stablecoin initiatives.

The difference in strategy and legislative deadlock

Moynihan emphasized that "the business cases for creating value have not been clearly proven" and the bank has not seen customers "knocking on the door" demanding #stablecoin immediately. He stated that implementation would depend on a clear legal framework and actual demand.

Meanwhile, Citigroup is actively researching the issuance of its own stablecoin for cross-border payments, and JPMorgan also intends to enter this field.

The legislative situation regarding cryptocurrency in the U.S. remains deadlocked. The House's "Crypto Week" faced setbacks when a procedural vote to pass three important crypto bills (including the GENIUS Act on stablecoin and a bill banning CBDC) failed due to opposition from Republican lawmakers. Although President Donald Trump intervened and claimed to have persuaded these lawmakers, disagreements persist, delaying the legal outlook for the crypto industry.