The American financial conglomerate has marked up a vacancy on LinkedIn for a "global crypto policy manager" responsible for regulating and identifying "key risks from fintech."
The duties of the managing department of the Bank of America cryptocurrency will include the development of amendments and comments to bills, preparation for speeches to legislators and regulatory authorities. The expert will have to identify threats to financial technology business models for Bank of America:
"We are looking for a manager who will identify emerging issues and assess the potential impact on the enterprise, focusing on fintech, cybersecurity, artificial intelligence, cryptocurrencies, stablecoins and blockchain".
A candidate for the position of cryptocurrency regulation manager should be responsible for analyzing proposals, developing strategies to protect interests and building coalitions in the industry.
The US House of Representatives Committee on Financial Services has developed a bill on stablecoins, which will temporarily ban stable coins that are not backed by external assets. So far, the adoption of the bill has stalled, but any negative news on the market may force the authorities to speed up the adoption of restrictions.
In May, the CEO of the financial conglomerate Bank of America, Brian Moynihan, said that the bank does not plan to introduce cryptocurrencies in the foreseeable future due to too strict regulation of the industry. Although in recent years, the banking giant has become more active in the field of cryptocurrencies and blockchains. For example, last year, the company began clearing bitcoin futures with cash payments and joined the Paxos blockchain-based settlement network.
