Carie Racicot V1R9

Bank of America CEO Brian Moynihan said banks in the US are waiting for regulatory approval to embrace cryptocurrencies for payments. According to Moynihan, financial institutions only need the rules to allow the use of cryptocurrencies.

The CEO said this during an interview with CNBC Andrew Sorkin at Davos’s World Economic Forum (WEF), where he highlighted the change in traditional institutions’ perception of crypto.

He said:

“If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it.”

Moynihan appears to be focused on using cryptocurrencies for payments in a similar context to other options such as Debit Cards and Apple Pay. According to the CEO, Bank of America already has several patents for blockchain applications, so it is ready to enter the industry.

However, the bank executive did not discuss the value proposition of cryptocurrencies as an investment. Interestingly, most traditional financial institutions have shown interest in this area by buying spot crypto exchange-traded funds (ETFs) even as their commercial banking arms pulled away from retail crypto users.

Meanwhile, many in the crypto community have highlighted Moynihan’s comments as a sign of positive tailwinds for the crypto industry. Marathon Digital CEO Fred Thiel noted this was a good sign, while former Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo said it would happen.

When will regulatory clarity come to crypto?

Despite the hype around banks embracing crypto, many in the industry still await an answer regarding when regulatory clarity will come. Many had expected President Donald Trump to officially endorse crypto in his inauguration speech or through one of the first executive orders (EOs)

With neither happening so far, speculations have been flying around on X. One of them comes that an executive order affecting the crypto industry is on the way. Bitcoin magazine CEO David Bailey posted earlier on January 21 that an executive order affecting the crypto industry is among the first 200 that Trump would sign, but he did not specify what the content would be.

He said:

“Got confirmation tonight that our EOs are among the first 200. I have no idea what made it in, but good news cometh.”

Meanwhile, Fox Business journalist Eleanor Terret also claimed that two EOs on establishing a crypto council and banning the creation of a Central Bank Digital Currency (CBDC) are awaiting Trump’s signature. There are also speculations that the President will pardon Silk Road creator Ross Ulbricht soon, and many expect this to lead to a surge in Bitcoin value.

Changes at SEC and CFTC bodes well for crypto

Although the new president has not made any official declaration that favors crypto, there are still several positive signs for the industry. The two regulators dealing with the sector, the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), now have pro-crypto acting chairs in Mark Uyeda and Caroline Pham, respectively.

According to Fox Business reports, Uyeda, who will leave the post once the Senate confirms presidential nominee Paul Atkins, already plans to reverse some of the erstwhile chair Gary Gensler’s policies. Under Gensler, Uyeda was one of the major critics of the regulation-by-enforcement approach to crypto and described it in one interview as a “disaster for the whole industry.”

With him now in the driving seat, even temporarily, and with another pro-crypto commissioner, Hester Pierce, he has already started making moves to improve regulatory clarity in the interim. Uyeda recently launched a crypto task force to develop a comprehensive framework for the industry. The agency currently has only three commissioners, with Democrat Caroline Crenshaw as the third after Gensler resigned alongside Jaime Lizarraga.

The uncertainty over when regulations will finally arrive has not negatively impacted crypto prices, with Bitcoin still maintaining its value above $100,000 and almost every other asset on an upward trend.

From Zero to Web3 Pro: Your 90-Day Career Launch Plan

Have you ever dreamed of earning passive income without having to invest any money upfront? Well, I did exactly that, and I’m here to share my story with you! 💥

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Binance allows you to stake certain cryptocurrencies directly, and that’s exactly what I did. I didn’t need to buy additional assets—I simply staked my existing holdings in eligible coins like BNB, ADA, and DOT. By staking, I could receive daily rewards in the form of more coins.

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The next step was Liquidity Farming on Binance’s Liquid Swap feature. Liquidity farming allows you to provide liquidity to decentralized exchanges and earn interest rates on your assets. With the help of Binance’s simple interface, I was able to participate in liquidity pools that generated rewards in the form of transaction fees and farming rewards.

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In addition to all of the passive income options above, I also took advantage of Binance’s referral program. By inviting friends to join Binance using my referral link, I earned commissions on their trading fees—no investment required on my end!

With Binance’s massive user base and easy-to-use platform, I was able to quickly share the benefits with my network. Every time someone signed up through my link and traded on Binance, I earned a small percentage of the trading fees they paid. These rewards accumulated, and over time, it became another income stream!

Step 6: Monitoring My Earnings and Adjusting Strategies 📈

The key to earning consistently on Binance is to monitor your earnings and make adjustments. I learned to optimize my staking and savings accounts, regularly checking which assets offered the best rewards. I also kept an eye on the crypto market trends to ensure I was making the most of my holdings.

By staying on top of changes, I was able to maximize my earnings while minimizing any risk.

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Results: How I Made $40.22 a Day 💵

By combining all of these methods—staking, savings, liquidity farming, and referrals—I managed to earn an average of $40.22 every day. Some days were higher, and some days were lower, but overall, this passive income stream has been a game-changer.

The best part is that I didn’t have to actively trade or risk my own money. I earned by simply using Binance’s platform in ways that leveraged the tools available to me.

Why Binance? 🚀

Binance is one of the most trusted and feature-packed platforms in the cryptocurrency space. With its wide range of earning options, low fees, high liquidity, and secure ecosystem, it’s the perfect place to start earning without any significant investment.

If you’re new to the crypto world, Binance offers a simple and intuitive experience, making it easy to get started. For those of you already familiar with the platform, you know how powerful these tools can be for earning passive income!

Ready to Start Earning on Binance? 💥

So, if you’re looking to make money without having to risk your savings or invest a fortune, I highly recommend giving Binance a try. No investment required, just a little time to get familiar with the platform and its features. You can start earning today just like I did!

If you're curious to learn more or need help getting started, don’t hesitate to ask me in the comments below! I’m happy to share tips and advice to help you earn passive income on Binance.

Don’t forget to like, share, and follow for more tips on making money with crypto! 💸