Bank of America cited various aspects in their recent fiscal report. Key among the issues is the widespread acceptance of cryptocurrency in the business world, because the widespread adoption of cryptocurrency could lead to the loss of clients in the future - Bank Of America: Cryptocurrencies Pose A Threat To The Banking Industry:
"Clients may prefer to do business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies"
"Emerging technologies like cryptocurrencies is making it hard for us to track the movement of money. For us to conform to these laws requires us to enhance our capacity for detection and reporting capabilities as well as the oversight modalities"