BTC
ETH
SOL
XRP
BNB
TON
DOT
LTC
POL
HBAR
NEAR
ARB
UNIJPMorgan and Citigroup curb AI agents that move customer money
US banks are restricting third-party AI agents from logging into accounts and transacting, while Binance's Changpeng Zhao argues crypto suits machine payments better.
Why it matters: Banks are drawing a security line around autonomous software just as crypto advocates pitch blockchain wallets as the natural payment rail for AI agents.
Key points
- Citigroup bars unauthorised third-party agents from logging in or transacting, allowing only approved read-only access
- JPMorgan CEO Jamie Dimon raised the risk on the bank's 13 Oct earnings call
- Wells Fargo's updated access agreement, due 24 Nov, separates viewing data from making transactions
JPMorgan Chase, Bank of America, Citigroup and other US banks are tightening restrictions on third-party AI agents that log into customer accounts and move money, Bitcoin.com News reports. The banks have detected agents accessing accounts, sometimes with credentials customers handed over themselves.
Citigroup has barred unauthorised third-party agents from logging in or transacting through its digital platforms, though it permits some approved read-only connections. JPMorgan CEO Jamie Dimon warned on the bank's 13 Oct earnings call about letting unrestricted outside agents into its systems, and Bank of America CEO Brian Moynihan has stressed that people should authorise outgoing payments. Wells Fargo's updated access agreement, scheduled for 24 Nov, separates viewing financial information from carrying out transactions.
Crypto's opening
Binance founder Changpeng Zhao has argued that autonomous agents will increasingly turn to crypto networks instead, since wallets can execute programmable transactions continuously without facial recognition, SMS checks or business hours. He has suggested machine payments could eventually reach a million times human transaction volumes.
On Bitcoin.com News' Token Narratives podcast, co-host David Sencil relayed Gauntlet's Tarun Chitra warning that a major traditional finance bank will almost inevitably be hacked, and that the fallout would make crypto losses look like "play money". Crowdstrike CEO George Kurtz has separately said AI is putting sophisticated attack tools in far less experienced hands, describing the agent as the new "apex predator".
What to watch: Wells Fargo's updated access agreement, which separates viewing account information from transacting, is scheduled for 24 Nov.
Live updates on NewsFeeds:AIDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.