Bank of America CEO Brian Moynihan said that the U.S. banking industry will embrace cryptocurrencies for payments if regulators allow it.
The head of the second-largest U.S. bank by assets was asked by CNBC's Andrew Ross Sorkin about how the industry's approach to crypto could change given President Donald Trump's enthusiasm for digital currencies.
"If the rules come in and make it a real thing that you can actually do business with, you'll find that the banking system will come in hard on the transactional side of it," Moynihan said at the World Economic Forum in Davos, Switzerland.
