🏦 Bank of America CEO mulls entering stablecoin business 🤔 BoA’s CEO said that pursuing innovative financial technology and maintaining physical branches are central to the bank’s business strategy. 🗣Brian Moynihan, the CEO of Bank of America, recently told an audience at the Economic Club of Washington DC that the commercial bank will likely launch a stablecoin if comprehensive legislation is passed in the United States. - According to Fortune, the CEO told an audience at the Economic Club of Washington DC, “If they make that legal, we will go into that business.” 💭 Moynihan added that the bank could offer dollar-backed tokens linked to customer deposit accounts but did not go into greater detail on any potential products. 💭 Stablecoins are expected to thrive under President Donald Trump's administration as comprehensive regulations are established to use overcollateralized dollar-pegged tokens to extend US dollar dominance in international trade and bring stablecoin firms onshore. ✅ Stablecoin regulations become priority for US lawmakers - Several stablecoin regulatory bills have been proposed by US lawmakers, including the Lummis-Gillibrand Payment Stablecoin Act, the Clarity for Payment Stablecoins Act of 2024, and the GENIUS stablecoin bill. 💭 In February 2025, US House Financial Services Committee ranking member Rep. Maxine Waters called for bipartisan regulation on stablecoins. 💭 The Congresswoman said the stablecoin regulatory bill drafted by former House Financial Services Committee chairman Patrick McHenry in 2024 was preferable to other legislation. ___ 🟦 Stay connected with us on our social media platforms to receive the latest exciting updates. 🔥 Trust our team of professional traders with your finances and see that smart investing is the key to achieving your financial goals. Trust Sybbex