According to Decrypt, Bank of America CEO Brian Moynihan reiterated the bank's cautious stance on stablecoins during a Wednesday earnings call, citing 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 need.

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