Against the backdrop of U.S. President Donald Trump, U.S. banks have expressed their intention to expand their participation in crypto and promised to return to the White House. Morgan Stanley CEO Ted Pick reportedly said the bank wants to explore whether it can act as a cryptocurrency while keeping its regulatory obligations intact. To this end, the CEO said the New York City-based bank plans to have discussions with U.S. regulators in the coming months.
The CEO revealed the bank’s plans for the intervals of the World Economic Forum in Davos (WEF 2025). Pick told CNBC correspondents that Morgan Stanley will work with the U.S. Treasury Department and other relevant agencies to assess the security of banks’ attempts to enter crypto services.
Pique also discussed the recent madness surrounding President Trump and members of First Lady Melania Trump. “I think there is liquidity. I think the broader question is whether some of these ages have grown, whether there is a speed of escape from the blow, you know, the longer the time (cryptocurrency) is trading. And you know, perception becomes Reality. For us, the equation is really about whether we as regulated financial institutions can act as traders or follow the money around it.”
In the past, Morgan Stanley has taken several steps to get involved in crypto services. According to reports, in August 2024, Wall Street Bank began allowing its financial advisers to recommend Bitcoin-backed ETFs to choose high-net-worth clients. The bank continues to keep its distance from its virtual assets due to regulatory uncertainty.
The cryptocurrency industry is waiting for US President Donald Trump’s pro-Crypto commitment to come true. A few days after Trump’s inauguration, U.S. Congressmen formed a task force to accelerate the drafting of encryption rules. The U.S. president has previously said he plans to make BTC a retained asset in the United States.
Earlier this week, the Bank of America chair also predicted that traditional banks may be bullish on crypto-related services once regulations are under President Trump.
