Morgan Stanley CEO Ted Pick To Explore Crypto with U.S. Regulators
Morgan Stanley CEO Ted Pick recently said the bank would work with U.S. regulators to explore its potential to participate in the cryptocurrency market. Peake emphasized that the focus is on determining whether banks, as highly regulated institutions, can safely engage in digital currency transactions. He emphasized the bank’s intention to work with the Treasury and other regulators to ensure safe participation in the cryptocurrency space. Morgan Stanley has been a cryptocurrency pioneer in wealth management, offering Bitcoin funds and ETFs to wealthy clients. However, under the Biden administration, banks have been limited to trading Bitcoin derivatives rather than holding physical Bitcoin, a point also highlighted by Goldman Sachs CEO David Solomon.
