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Bank of America has recognized cryptocurrency as a threat to its business. The management of the bank filed a report to the US Securities and Exchange Commission on the form of K-10, in which it reports that the cryptocurrency limits the ability to monitor financial flows. Thus, Bank of America became the first institutional organization to declare growing risks from the cryptocurrency. According to bitGuru, the report noted that the spread of clearing services for cryptocurrencies on the part of payment systems is gradually enticing the ... Read more about " Bank of America recognized the cryptocurrency as a competitor " on coinatory.com

The US banks have banned buying cryptocurrency with their credit cards. As informs Bloomberg, restrictive measures were accepted by all banks of "the big four": JPMorgan Chase, Bank of America, Citigroup and Wells Fargo. "By prohibiting the purchase of cryptocurrency, the bank will continue to study the issue as the market develops," said Wells Fargo representative Shelley Miller in an email. Previously, representatives of banks explained that the purchase of cryptos with credit cards carries high credit risks, including for the banks ... Read more about " Why did American banks prohibit buying cryptocurrency with credit cards? " on coinatory.com

Wells Fargo, following other major US banks, has banned the use of its credit cards for the purchase of cryptocurrency, Bloomberg agency reports. "Banning the purchase of cryptocurrency, the bank will continue to study the issue as the market develops," the representative of the institution, Shelley Miller, said in an e-mail. Previously, other large banks have imposed bans on the purchase of digital currencies: JPMorgan Chase, Bank of America and Citigroup, which together with Wells Fargo constitute the so-called "big four" of US ... Read more about " Wells Fargo banned buying cryptocurrency with it"s credit cards " on coinatory.com