In what is a part of the continued progression of the digital asset sector in the country, Morgan Stanley is set to work with US regulators on the bank’s crypto offerings. Indeed, the institution’s CEO, Ted Pick, confirmed the collaborative stance in a recent interview with CNBC.
With the arrival of US President Donald Trump, the industry is expected to surge within the country. In his first few days, the 47th commander-in-chief has established a firm pro-crypto stance. Moreover, his appointment of Mark Uyeda as acting US Securities and Exchange Commission (SEC) chair has already made waves. He has already orchestrated the debut of a Crypto Task Force.
JUST IN: Morgan Stanley CEO says the bank is working with regulators to offer crypto transactions.
— Watcher.Guru (@WatcherGuru) January 23, 2025
Also Read: Morgan Stanley’s E-Trade Considers Offering Crypto Trading
Morgan Stanley CEO Says Bank Will Work With Regulators on Crypto
The digital asset sector is poised for a complete overhaul set to begin in 2025. Indeed, with the first pro-crypto president officially set to begin his term, Donald Trump is poised to change how the asset class is treated in the country. Moreover, traditional financial institutions are ready to embrace that change.
Earlier this week, Bank of America CEO Brian Moynihan said the banking sector would be quick to embrace the industry. Specifically, he expected a rush to get involved if US regulators allowed it. Now, Morgan Stanley CEO Ted Pick has echoed similar sentiments, confirming the firm will work with US regulators on crypto offerings.
Also Read: Donald Trump to Designate Cryptocurrency as a National Priority
In a recent interview, Pick discussed the emerging asset class. Indeed, he was asked about his views on cryptocurrencies within the early days of the current Trump administration. “For us, the equation is really around whether we, as highly regulated financial institutions, can act as a transactor,” he said.
“We’ll be working with Treasury and the other regulators to figure out how we can offer that in a safe way,” he added. To this point, Morgan Stanley has been ahead of the curve. In 2021, it was the first US bank to offer crypto funds to clients. Moreover, in 2024, it was an early offerer of the approved Spot Bitcoin ETFs. That could help the firm, as it seeks to be the first in a mad dash for market share.