Morgan Stanley is taking a proactive approach to the growing crypto market. The bank apparently plans to work closely with the US Treasury and other regulatory bodies to ensure it can offer crypto services.
In a recent CNBC interview, Morgan Stanley CEO Ted Pick shared his thoughts on the current state of crypto under the Trump administration and the bank’s crypto plans.
Morgan Stanley Plans Crypto Services, Focuses on Regulatory Compliance
Pick addressed the broader implications of the surge in crypto activity, including the rise of speculative assets. When asked about the new TRUMP and MELANIA meme coins, he pointed to the increasing liquidity in the crypto markets.
“Well, I think there is liquidity and the liquidity, you know, express itself in all kinds of different ways. I think the broader question is whether some of this has come of age, whether it’s hit escape velocity,” Pick said.
Pick seems to suggest that the longevity of these coins will ultimately determine whether they’ve reached “escape velocity.” In other words, Pick is cautious but open to the idea that crypto could evolve into a stable part of the financial system.
“Time is the friend,” Pick added. He emphasized that as cryptocurrencies continue to trade and gain mainstream attention, their value will become clearer.
For established financial institutions like Morgan Stanley, Pick highlighted that their main concern revolves around operating within the regulations.
“For us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors. We’ll be working with Treasury and the other regulators to figure out how we can offer that in a safe way,” Pick explained.
Morgan Stanley’s crypto plans were considered massively bullish by the crypto community, with many voicing their thoughts on X. One user even said, “This move cements crypto’s place in the global financial system.”
It was reported earlier this month that E-Trade, Morgan Stanley’s online brokerage division, is considering offering crypto trading services. However, this plan is still in the exploratory stage.
Also, the CEO of Goldman Sachs has previously said that the investment bank is open to engaging with cryptocurrencies. However, this is possible only if the regulatory environment changes. At present, banks like Goldman Sachs are not allowed to own or engage principally with Bitcoin.
Moreover, Ted Pick’s comments come at a pivotal time for the crypto market. Under the Trump administration, there has been a noticeable shift in attitudes toward digital currencies. Trump has also signed an official executive order to create a “national digital asset stockpile.”
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