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Bank of America admits cryptocurrency is threatening its business model

Posted by Staff Writer on February 23, 2018 in Technology News Site | 6 Views

By Bryan Clark
One of the world’s largest financial institutions admitted in its annual report that cryptocurrency is a looming threat to its business model. According to a report filed with the SEC by Bank of America: Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies. Increased competition may negatively affect our earnings by creating pressure to lower prices or credit standards on our products and services requiring additional investment to improve the quality and delivery of our technology and/or reducing our market share, or…

This story continues at The Next Web Click here to read entire article

Source:: The Next Web

      

Posted in Technology News Site | Tagged Canada, europe, North America, Technology News

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