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The chief executives of several leading banks in the United States expressed caution when the Senate committee was scheduled to release testimony before court on Wednesday.
Brian Moynihan of Bank of America, Jane Fraser of Citigroup and Charles Scharf of Wells Fargo made these statements The remarks are because the U.S. financial regulators are vying to respond to explosive growth- Dizzy fluctuations —There is currently a lack of an encryption market with an overall national regulatory agency.
Financial conglomerates are also facing pressure from consumers and companies who want to take action, as well as pressure from regulators. Regulators publicly worry that the trading environment “may benefit from more investor protection”, according to Securities Chairman Gary Gensler (Gary Gensler)’s words and the trading committee.
Moynihan (Moynihan) hinted at the difficulty of the testimony of the treasurer. He said that even if Bank of America continues to “evaluate the opportunities, risks and customer needs of cryptocurrency-related products and services,” Bank of America is still cooperating with Bitcoin and its Brothers keep their distance.
He said: “At present, we do not borrow cryptocurrency, nor do we operate a banking company whose main business is cryptocurrency or promoting cryptocurrency transactions and investments.”
Moynihan added that even though his bank has more than 60 patents related to blockchain (ledger technology that supports cryptocurrency), “we still haven’t found large-scale use cases.”
Fraser stated that Citigroup is taking a “planned approach” to seek to “understand changes in the digital asset sector and the use of distributed ledger technology, including customer needs and interests, regulatory developments and technology progress”.
She said: “Before using cryptocurrency, we regard it as our responsibility to ensure that there is clear governance and control.”
Schaff said that Wells is about to announce a pilot project using blockchain technology “to complete the internal book transfer of cross-border payments within our global branch network.”
But this is just the way he walked. He said: “We continue to closely and actively monitor the development of cryptocurrencies. Although their position as a currency and payment mechanism is still unstable, cryptocurrencies have emerged as alternative investment products.”
Jamie Dimon, CEO of JPMorgan Chase, David Solomon of Goldman Sachs and James Gorman of Morgan Stanley James Gorman) will join the ranks of these three bankers.
The committee, led by Sherrod Brown, a Progressive Democrat from Ohio, convened bankers to conduct an annual supervisory hearing on Wall Street companies.
The team is particularly interested in the large banks’ response to the pandemic and their efforts to expand diversity within their ranks and promote social and economic justice more broadly.
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