Morgan Stanley CEO Reportedly Says Bank To Work With Regulators On Crypto Involvement: Retail’s Positive On BTC
According to a CNBC report, CEO Ted Pick told Andrew Ross Sorkin at the World Economic Forum that the equation concerns whether the bank, as a highly regulated financial institution, can act as a transactor.
FollowWith Donald Trump back as the President of the United States, bank CEOs are weighing in on their potential involvement with cryptocurrencies.
After Bank of America, now Morgan Stanley CEO Ted Pick has reportedly said his bank will work with U.S. regulators to explore how it can deepen its involvement in crypto markets.
Pick told CNBC’s Andrew Ross Sorkin at the World Economic Forum that the equation revolves around whether the bank, as a highly regulated financial institution, can act as a transactor.
“We’ll be working with (the) Treasury and the other regulators to figure out how we can offer that in a safe way,” the CEO said, according to a CNBC report.
Pick noted that Bitcoin’s staying power through tough times could prove critical. “The broader question is whether some of this has come of age, whether it’s hit escape velocity,” Pick said, according to the report. “You know, time is the friend [of crypto]; the longer it trades, perception becomes reality.”
Last week, Bank of America CEO Brian Moynihan reportedly said on Tuesday that the banking industry will accept cryptocurrencies for payments if regulators permit their usage.
“If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it,” Moynihan said in an interview at the World Economic Forum.
After Trump won the elections in November 2024, crypto prices shot up. Bitcoin has jumped over 54% since his victory and is now trading near the $105,000 mark.
On Stocktwits, retail sentiment surrounding Bitcoin dipped into the ‘neutral’ territory (50/100) from ‘bullish’ a day ago.
BTC’s Sentiment Meter and Message Volume as of 11:26 a.m. on Jan. 23, 2025 | Source: Sentiment Meter
Stocktwits user comments on Bitcoin generally indicate a positive take on the apex coin.
BTC has gained over 13% year-to-date and over 166% in the past year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
subscribe to Asianet Newsable WhatsApp channel by clicking here.
