Bank of America includes crypto warning in annual report
Seeking Alpha
Published Feb 23, 2018 10:37AM ET
Bank of America includes crypto warning in annual report
- Management, or at least the lawyers at Bank of America (NYSE:BAC) are taking bitcoin seriously, adding cryptocurrencies to the list of "risk factors" in the bank's latest 10-K.
- "The widespread adoption of new technologies, including internet services, cryptocurrencies and payment systems, could require substantial expenditures to modify or adapt our existing products and services."
- BofA is among those leading institutions that have blocked customers from using plastic to invest in cryptos. Its wealth-management clients are also restricted from these types of investments.
- Bitcoin today is up 4.7% to $10,310.
- Related tickers: OTCQX:GBTC, COIN, RIOT, OSTK, SSC, MARA, UEPS, OTC:BITCF, XNET, GROW, OTCPK:BTSC, OTCQB:BTCS, OTCQB:MGTI, OTCPK:BTLLF SRAX, OTCPK:GAHC, OTC:ARSC, OTCPK:USTC, OTCPK:BLKCF, COINB, LFIN
- Now read: MGT Capital Investments: High Ambitions Vs. Market Realities Not Enough Visibility To Mitigate High Risks
Original article
Get The News You Want
Written By: Seeking Alpha
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.