Bitcoin continues to suffer from different attacks. This time, CEO of Bank of America Brian Moynihan accused the cryptocurrency of funding world terrorism.
In one of his recent interviews, Moynihan said that cryptocurrencies are not only a very risky instrument for investment but also a convenient tool for illegal financial transactions. The CEO is concerned about money laundering and terrorism funding. Governments can not trace the movement of anonymous currencies, while such control is one of the main ways to find financing channels of criminal organizations. "I think the question anonymous currency is something that has to be thought through from a policy decision. The ability to track massive amounts of money moving through is tricky. The idea of digital currency is nothing new. Half of our consumer payments which are 2 trillion dollars year to date are digital. So this is not something new or different. It's the anonymous thing that causes debate from an operational perspective," Brian Moynihan said.
Unlike his colleagues, Bryan did not call digital money a bubble or compare it with Ponzi schemes. The Bank of America CEO made it clear that cryptocurrencies are a remarkable phenomenon that deserves close attention, mainly because of the amount of money that is involved in virtual transactions.