Morgan Stanley CEO Ted Pick revealed the bank's intention to explore the possibility of providing crypto services in collaboration with regulatory bodies.
Current Plans of Morgan Stanley
During a speech at the World Economic Forum, Ted Pick, CEO of Morgan Stanley, addressed the potential role of the bank in cryptocurrency trading. He mentioned that Morgan Stanley intends to work with the U.S. Treasury and others to determine how to offer crypto services safely.
Crypto Support from the Trump Administration
After a significant crypto boom in the United States, Ted Pick elaborated on how the bank plans to join forces with regulators to assess the actual participation in the crypto market. Policies by Trump's administration favoring crypto and digital assets have enhanced their acceptability and popularity. In a bid to propel the U.S. to be the global capital of crypto, Trump issued an executive order to set up an inter-agency working group on cryptocurrency.
Financial Institutions and Crypto Security
Ted Pick also noted that Morgan Stanley is reviewing how to offer crypto services in the United States, working with regulators once the review is complete. The bank is focused on evaluating whether it can provide such services within the regulatory framework. Furthermore, a key aspect is the collaboration with major authorities such as the U.S. Treasury and the new SEC to ensure formal compliance.
In the near future, Morgan Stanley will continue exploring the potential of offering crypto services in collaboration with regulatory bodies, potentially increasing the presence of cryptocurrencies in the financial sector.
