The post Morgan Stanley’s CEO to work with U.S. regulators to explore more options in crypto appeared on BitcoinEthereumNews.com.

Morgan Stanley’s CEO Ted Pick commented at the World Economic Forum annual meeting in Davos that the bank was ready to work with financial regulators to explore options for greater involvement in crypto. Pick explained that Morgan Stanley hoped to cross the obstacle of whether it could act as a crypto transactor as a highly regulated financial institution.  The Morgan Stanley CEO assured that the bank would work with the U.S. Treasury Department and other regulators to explore options for offering crypto services safely. The Morgan Stanley bank has been exploring crypto trading options through E*TRADE. The branch has been offering Morgan Stanley users exposure to crypto through crypto exchange-traded funds, crypto-related stocks, and futures.  BofA CEO says U.S. banks are considering engaging in crypto more  Bank of America CEO Brian Moynihan spoke during the WEF Davos meeting about the U.S. banks’ willingness to engage in crypto. Moynihan’s comment came after a question concerning the direction U.S. banks would take regarding crypto under the new pro-crypto administration. The BofA CEO explained that regulatory clarity would be necessary for major banks to engage as crypto transactors.  Moynihan also highlighted the possibility of crypto becoming a new form of payment alongside debit cards, Visa, Mastercard, and Apple Pay. The BofA CEO further pointed out that banks like Morgan Stanley and Goldman Sachs, among others, had access to what they would require to join crypto. The executive still did not touch on crypto as a store of value or as a favorable investment option.  A recent report outlined U.S. banks’ reluctance to offer retail crypto transaction services. Another report revealed that regulators had asked the U.S. banks offering and wishing to offer crypto banking services to pause crypto-related activity.  Coinbase released the court documents in June last year revealing internal communications of the…

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Filed under: News - @ January 23, 2025 8:23 pm