Bank of America: Regulatory oversight is accelerating, and the banking system is moving towards a "blockchain future."

In its latest report, Bank of America stated that with the accelerated implementation of regulations on stablecoins and banking licenses in the United States, the US banking system is moving towards a multi-year "on-chain future." The report points out that the OCC has conditionally issued national trust bank licenses to five digital asset companies, marking the formal inclusion of stablecoins and crypto custody into the regulated banking system. Bank of America anticipates that the FDIC and the Federal Reserve will further introduce stablecoin capital, liquidity, and approval rules under the GENIUS Act, with these regulations expected to take effect no later than 2027.