The hurdles may be high for a couple of guys in a garage, but since the US courts have agreed BTC is a currency, the hurdles are well known and well understood

The hurdles may be high for a couple of guys in a garage, but since the US courts have agreed BTC is a currency, the hurdles are well known and well understood by existing players in the finance world. I suspect their reticence to get into BTC is a combination of limited customer interest, underworld associations (SilkRoad), and volatility. If those three things would go away (i.e. Lots of people want it to use for mundane things, and the price remains relatively stable) I'd bet Bank of America would be happy to get into BTC.