Bank of America acquires patent for cryptocurrency risk detection system

On April 30th, a document from the US Patent and Trademark Office (USPTO) showed that Bank of America (BoA), the second largest bank in the US, has obtained a patent for the cryptocurrency risk detection system. The patent is based on a risk detection system specifically for cryptocurrencies. Based on the system, the cryptocurrency transaction between the customer and the third party will be risk scored. Bank of America passed the patent to reduce the risk of transparency and credibility in cryptocurrency transactions.