In the process of a speech given at the World Economic Forum, CEO of Morgan Stanley Ted Pick addressed the question that he and U.S. regulators will assess having the potential for a broad role in cryptocurrency trading. He mentioned, "So, we will be working with the U.S. Treasury and others so that we could figure out how to offer crypto safely."
After Such a Big Boom for Crypto in the United States Ted Pick briefed how his bank will be joining forces with U.S. regulators to look into that actual participation in the crypto market. Trump's administration policies favoring the crypto and digital assets have enhanced their acceptability and popularity. The leader of the United States, Donald J. Trump, has issued an executive order to set up an inter-agency working group on crypto to fulfill his desire to propel the U.S. to being the global capital of crypto.
Morgan Stanley CEO Ted Pick said the bank is reviewing how to offer crypto services in the United States and corresponding with regulators once the review is completed. He emphasized that the bank's principal concern is figuring out whether it can provide crypto services within the normative framework. Therefore it implies a future move for more crypto reliance within the financial setting. Yet, the cheerful part to highlight is that another main thing Pick spoke about being in league with prominent authorities, such as the U.S. Treasury, the new SEC to tailor formal compliance to proffer crypto services in ease.
Bank of America CEO Brian Moynihan talked during the Mitchell Leadership Program at WEF-Davos about U.S. banks aboard with crypto. While he showed a nice force in the direction of stablecoins, Moynihan argued for rather-and-insistently on the need for clear regulatory frameworks before banks would feel comfortable entering- into the crypto arena.
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Mohit Raghuwanshi is an Indian journalist working at Coin Gabbar’s news desk, passionately following the ever-evolving crypto market. With a keen interest in blockchain technology and digital assets, he delivers in-depth reports on industry trends, regulations, and market movements. He holds a bachelor's degree in Journalism and Mass Communication and previously worked as a content writer at a PR agency, honing his skills in crafting compelling narratives and analyzing financial markets.
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