In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Brian Moynihan, CEO of Bank of America (BoA), said that if proper regulation makes crypto payments "a reality," then "the banking system will be tough on transactions." In this case, crypto transactions would simply be seen as another type of payment alongside credit cards, debit cards and Apple Pay., Brian Moynihan said: "We already have hundreds of blockchain patents and we know how to get into the space." He said that the willingness of US banking institutions to adopt cryptocurrency payments if there are proper rules in place shows that the financial industry is still waiting for clearer signals from regulators before taking action.