Bank of America considers Bitcoin and crypto transactions to be equivalent to cash deals

Bank of America takes Bitcoin, Ethereum and altcoins as money equivalent and

will regulate crypto transactions as money exchanges

American banking accepts crypto

A picture posted on Reddit social media has shown that the credit card system of Bank of America may change conditions offered for users of cryptos such as BTC.

Bitcoin, Ethereum, Litecoin and other crypto assets were called cash advances, according to the information previously published on Twitter.

Some members of crypto community have supposed these changes may be related to the new policy of Bank of America intends to increase transaction commissions, “Operations with cash advances have one of the highest reward rates, about 5%”.

JPMorgan banks and crypto assets

However, Bank of America is not the first that starts to accept crypto since JPMorgan Chase, the largest financial corporation in the USA, has already begun to accept Gemini и Coinbase and is servicing both exchanges as banking clients.

This means that Bitcoin and other cryptocurrencies are already being integrated into the American financial landscape and on the Wall Street.