PANews reported on December 2nd, citing Yahoo Finance, that Bank of America (BAC) has advised its wealth management clients to consider allocating a certain percentage of their portfolios to cryptocurrencies. The firm recommends that clients of its Merrill Lynch, Bank of America Private Bank, and Merrill Lynch Edge platform allocate 1%-4% of their funds to digital assets. Its investment strategists will begin monitoring four Bitcoin ETFs (BITB, FBTC, Grayscale Mini Trust, and IBIT) starting in January 2026. Chris Hyzy, Chief Investment Officer of Bank of America Private Bank, stated in a press release: “A moderate allocation of 1%-4% to digital assets may be appropriate for investors with a strong interest in thematic innovation and who can accept high volatility. Our recommendation emphasizes choosing regulated investment vehicles, making thoughtful asset allocations, and clearly understanding the opportunities and risks involved. For investors with a more conservative risk appetite, the lower end of this allocation range may be more suitable; while for investors with a higher overall portfolio risk tolerance, the upper end is more appropriate.”PANews reported on December 2nd, citing Yahoo Finance, that Bank of America (BAC) has advised its wealth management clients to consider allocating a certain percentage of their portfolios to cryptocurrencies. The firm recommends that clients of its Merrill Lynch, Bank of America Private Bank, and Merrill Lynch Edge platform allocate 1%-4% of their funds to digital assets. Its investment strategists will begin monitoring four Bitcoin ETFs (BITB, FBTC, Grayscale Mini Trust, and IBIT) starting in January 2026. Chris Hyzy, Chief Investment Officer of Bank of America Private Bank, stated in a press release: “A moderate allocation of 1%-4% to digital assets may be appropriate for investors with a strong interest in thematic innovation and who can accept high volatility. Our recommendation emphasizes choosing regulated investment vehicles, making thoughtful asset allocations, and clearly understanding the opportunities and risks involved. For investors with a more conservative risk appetite, the lower end of this allocation range may be more suitable; while for investors with a higher overall portfolio risk tolerance, the upper end is more appropriate.”
Bank of America recommends that its wealth management clients allocate 1%–4% to crypto assets.
PANews reported on December 2nd, citing Yahoo Finance, that Bank of America (BAC) has advised its wealth management clients to consider allocating a certain percentage of their portfolios to cryptocurrencies. The firm recommends that clients of its Merrill Lynch, Bank of America Private Bank, and Merrill Lynch Edge platform allocate 1%-4% of their funds to digital assets. Its investment strategists will begin monitoring four Bitcoin ETFs (BITB, FBTC, Grayscale Mini Trust, and IBIT) starting in January 2026. Chris Hyzy, Chief Investment Officer of Bank of America Private Bank, stated in a press release: “A moderate allocation of 1%-4% to digital assets may be appropriate for investors with a strong interest in thematic innovation and who can accept high volatility. Our recommendation emphasizes choosing regulated investment vehicles, making thoughtful asset allocations, and clearly understanding the opportunities and risks involved. For investors with a more conservative risk appetite, the lower end of this allocation range may be more suitable; while for investors with a higher overall portfolio risk tolerance, the upper end is more appropriate.”
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
South Korea is considering legislation requiring virtual asset operators to bear "no-fault liability" for hacker attacks, with fines potentially increased to 3% of sales revenue.
PANews reported on December 7th that, according to Yonhap News Agency, South Korea's Financial Services Commission is reviewing a plan to add a clause to the draft "Second Phase of Virtual Asset Legislation," stipulating that virtual asset operators will be liable for damages even if they are not at fault in the event of a hacker attack or computer accident. This plan aims to impose the same "no-fault liability" on operators of virtual asset exchanges as financial companies in response to hacker attacks or computer accidents. From 2023 to September 2025, the five major South Korean won exchanges (Upbit, Bithumb, Coinone, Korbit, and GOPAX) experienced a total of 20 computer system incidents. Furthermore, a plan is currently under discussion to increase penalties for hacking incidents to the level stipulated in the Electronic Financial Transactions Act. The South Korean National Assembly is currently reviewing an amendment to the Electronic Financial Transactions Act, which proposes fines of up to 3% of a financial institution's sales revenue for hacking attacks. If this bill is passed, virtual asset operators could also face similar fines. Currently, the maximum fine for virtual asset operators is 5 billion won.
Share
PANews2025/12/07 14:24
South Korea Revisits Crypto Exchange Liability Amid Hacking Risks
The post South Korea Revisits Crypto Exchange Liability Amid Hacking Risks appeared on BitcoinEthereumNews.com. Key Points: South Korea considers no-fault liability for virtual asset exchanges. Legislation aims to enhance operator accountability in cyber attacks. Pending fines could reach 3% of sales for hacking cases. South Korea’s Financial Services Commission is contemplating imposing no-fault liability on virtual asset operators for hacking-related damages, according to a Yonhap News Agency report on December 7. This potential legislation aligns virtual asset operators with financial institutions, impacting regulatory dynamics and market stability in South Korea’s evolving crypto sector. South Korea Targets Crypto Exchanges with 3% Sales Fines The Financial Services Commission (FSC) of South Korea is considering adding a clause to its draft legislation, imposing no-fault liability on virtual asset operators. This move follows a series of 20 computer incidents on top Korean won exchanges, emphasizing the need for enhanced security measures. The FSC aims to align virtual asset exchange liabilities with those of financial companies. South Korean lawmakers are debating stricter penalties, with proposed fines reaching 3% of sales revenue, paralleling measures in the Electronic Financial Transactions Act. Current maximum fines are capped at 5 billion won. This legislative shift reflects the government’s commitment to improving user protection and response strategies in the crypto sector. Industry reactions have been mixed. While there has been no official statement from major exchanges like Upbit and Bithumb, stakeholders are closely monitoring developments. Discussions on cryptocurrency forums and social media emphasize the potential impact on exchange compliance efforts and security enhancements. No-Fault Liability: Potential Game-Changer for Crypto Compliance Did you know? The concept of no-fault liability is already applied to South Korean banks for voice phishing cases, setting a precedent for proposed crypto exchange regulations. According to CoinMarketCap, Bitcoin (BTC), as of 06:31 UTC on December 7, 2025, has a market cap of $1.79 trillion. The 24-hour trading volume declined by 41.05%…
Share
BitcoinEthereumNews2025/12/07 14:37
Star responds to debt dispute with Li Feng of Moore Threads: Debt issues should be left to the law; we cannot remain in a negative shadow forever.
PANews reported on December 7th that OKX founder Star responded to the debt dispute with Li Feng of Moore Threads on the X platform, stating, "People cannot dwell in the shadow of a negative past. Let's look to the future and contribute more positive energy. Let the law handle the debt issue. Best wishes to every entrepreneur." Previous reports indicated that Li Feng, co-founder of Moore Threads, the "first domestic GPU stock," was exposed for issuing cryptocurrency to raise funds and for borrowing 1,500 BTC without repaying.
Share
PANews2025/12/07 14:44