Bank of America Report: With Crypto Regulation Taking Shape, Banks Are Accelerating Toward an On-Chain Future

According to ChainCatcher, market sources report that a new report from Bank of America indicates that as US crypto regulation shifts from discussion to implementation, the US banking industry is moving toward a multi-year on-chain transformation.

The Office of the Comptroller of the Currency (OCC) has granted conditional national trust bank licenses to five digital asset companies, marking the beginning of federal acceptance of stablecoin and crypto custody businesses. The FDIC is expected to release a regulatory proposal for payment stablecoins this week. According to the GENIUS Act, relevant rules must be finalized by July 2026 and take effect in January 2027. Federal Reserve officials also stated that they are working with other banking regulators to develop capital, liquidity, and diversification standards for stablecoin issuers.

The report also mentions that JPMorgan and DBS Bank Singapore are exploring interoperable frameworks for tokenized value transfer on both public and permissioned blockchains. Bank of America predicts that in the future, bonds, stocks, money market funds, and cross-border payments may migrate on-chain, which will require banks not only to be familiar with blockchain technology but also to be willing to experiment with tokenized assets and on-chain settlement.