Bank of America identifies 20 high-profile US companies with cryptocurrency exposure


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Walt Disney, Fox Corporation and JP Morgan are among a list of 20 publicly traded US companies that have some level of exposure to crypto and digital assets, based on data from Bank of America or BofA.

According to a BofA report published on Monday, companies such as Morgan Stanley, Signature Bank and Warner Music Group also have some exposure to digital assets.

In all, the 20 companies identified by Bank of America rated their stocks as either “buy” or “neutral” by America’s second-largest bank by assets under management.

As part of the report, Bank of America rated these companies as seeking significant growth in market capitalization by interacting with digital assets.

According to a previous Cointelegraph report, a recently published BofA document provides a bullish view of cryptocurrencies including non-perishable tokens, or NFTs, decentralized finance, or DeFi.

BofA also argued that the digital asset space cannot be ignored for long and that decentralized technology will continue to penetrate many aspects of human life.

“In the near future, you can use blockchain technology to unlock your phone; buy shares, a house, or a part of a Ferrari; get profits from borrowing, lending, or saving; or even paying for gas or pizza,” an excerpt from the report read.

Related: Gensler Confirms SEC Won’t Ban Cryptocurrencies… But Congress Can

However, BofA identified regulatory uncertainty as one of the biggest near-term obstacles for the emerging digital asset space.

Crypto laws continue to focus on regulators around the world with a mixed bag of favorable and strict measures adopted by financial oversight agencies across many jurisdictions.

In the US, many policymakers have called for stronger crypto regulations that critics say could stifle innovation in America. The banking giant also took advantage of the report’s publication to launch its digital asset research division. In fact, last July, Cointelegraph reported that Bank of America was preparing to set up a cryptocurrency research team.