On July 17, according to Decrypt, Bank of America CEO Brian Moynihan reiterated the bank's cautious stance on stablecoins during a Wednesday earnings call, noting the unclear regulatory environment and insufficient customer demand. While the bank has "done a lot of work" studying stablecoins, Moynihan emphasized that adoption will depend on a clear legal framework and actual demand.

Previously, Reuters reported that Bank of America CEO Brian Moynihan said the bank is preparing to launch a stablecoin, and investors can expect Bank of America to take action in the cryptocurrency space, but Brian Moynihan did not provide a specific timeline.