Bank of America CEO says stablecoin plans are on hold due to regulatory uncertainty and limited demand

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.