Banks like Bank of America are seriously threatened by the existence of cryptocurrencies like Bitcoin, and after all that's part of the reason for Crypto in the first place.
B of A cited in a document to the SEC that they have serious risks associated with the existence of cryptocurrency.
The first layer of risk for the bank is that it produces a challenge for them to be able to comply with SEC requirements surrounding KYC, Foreign Assets Control, and Anti Money Laundering Laws.
You can read their official filing with the SEC here on the official SEC website: https://www.sec.gov/Archives/edgar/da...
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Hey Matt, I met with an accident .. basically my shins and shoulder blade have been in a blender
Binge watching all your videos to get upto date .. hopefully ill be posting from tomorrow :)
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So sorry about the accident, you doing better? Healing up? I knew something had to be wrong since we haven't seen you!
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yup.. 2 months of bed rest.. thankfully i can use my hands so thats 2 months of gaming & movies non-stop :)
I feel better by the day .. thankyou very much for your concern .. it means a lot :)
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heal up fast!
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LOL Exciting times! But scary at the same time...Because if these big banks start throwing their weight around....Who knows what will happen?
To me....More of a reason to get into crypto LOL
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So true if the banks get there way we all could loose all are coins.👍👏👏👏👏👏🤔🤔 Great post keep it up and steem on!!
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that's right!
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I like where your head's at but they can't do much mate, all they could is spread FUD and close peolpes accounts for being involved in cryptocurrency. What's currently happening is they're discouraging the masses while they secretly get in the crypto space.
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Oh no question. They know what they are doing. And the masses will be scared and tip toe around the potential...But I look at it like opportunity regardless :)
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They should be scared!
It's my opinion that there is no place for them in the future.
they were build on the blood and bones of the poor.
as for now we still need them but I can't wait untill the day that they will disappear.
we need to build a community without the world of the old generations.
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BOA has several patents in the blockchain if im not mistaking . If they cant beat crypto. Join it . I would like to see more competition though . They basically have monopoly. Make the grounds equal .
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at least 44 blockchain patents, you are correct!
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I think that the banks and other financial institutions will follow the “if you can’t beat them, join them” dogma as it will ultimately lead to a win/win scenario as adoption increases. The efficiencies gain in their traditional processes should outweigh the impact to their business model.
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they are the ones with 44 blockchain patents!
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The amount of times Bank of America screwed me over when I was younger and didn't know better, they can go under tomorrow and all i would do is smile.
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they are definitely not winning the innovation battle!
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