Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Morgan Stanley’s CEO to work with U.S. regulators to explore more options in crypto

Source Cryptopolitan

Morgan Stanley’s CEO Ted Pick commented at the World Economic Forum annual meeting in Davos that the bank was ready to work with financial regulators to explore options for greater involvement in crypto. Pick explained that Morgan Stanley hoped to cross the obstacle of whether it could act as a crypto transactor as a highly regulated financial institution.

The Morgan Stanley CEO assured that the bank would work with the U.S. Treasury Department and other regulators to explore options for offering crypto services safely. The Morgan Stanley bank has been exploring crypto trading options through E*TRADE. The branch has been offering Morgan Stanley users exposure to crypto through crypto exchange-traded funds, crypto-related stocks, and futures.

BofA CEO says U.S. banks are considering engaging in crypto more

Bank of America CEO Brian Moynihan spoke during the WEF Davos meeting about the U.S. banks’ willingness to engage in crypto. Moynihan’s comment came after a question concerning the direction U.S. banks would take regarding crypto under the new pro-crypto administration. The BofA CEO explained that regulatory clarity would be necessary for major banks to engage as crypto transactors.

Moynihan also highlighted the possibility of crypto becoming a new form of payment alongside debit cards, Visa, Mastercard, and Apple Pay. The BofA CEO further pointed out that banks like Morgan Stanley and Goldman Sachs, among others, had access to what they would require to join crypto. The executive still did not touch on crypto as a store of value or as a favorable investment option.

A recent report outlined U.S. banks’ reluctance to offer retail crypto transaction services. Another report revealed that regulators had asked the U.S. banks offering and wishing to offer crypto banking services to pause crypto-related activity.

Coinbase released the court documents in June last year revealing internal communications of the banking regulator FDIC. The FDIC had also notified all U.S. banks that the organization would confirm when a decision was made regarding the banks’ availing of crypto services. One document highlighted the FDIC’s lack of clarity on whether banks required any filing to offer crypto-related services.

A Reuters report from December last year still outlined that U.S. bankers were cautious about crypto despite Trump’s promises for regulatory clarity. Goldman Sachs CEO David Solomon commented during the Reuters NEXT event that crypto regulations needed to evolve. The U.S. CFTC commissioner Kristin Johnson also expressed worry that the new administration might not learn from previous crises.

The U.S. SEC creates a crypto task force for regulatory clarity

SEC has launched crypto task force…

“Dedicated to developing a comprehensive & clear regulatory framework for crypto assets.”

Led by Hester Peirce.

Yes, please. pic.twitter.com/fznzKcuocY

— Nate Geraci (@NateGeraci) January 21, 2025

The U.S. SEC announced on January 21 that acting chair Mark Uyeda had created a new crypto task force to develop a comprehensive crypto regulatory framework for the country. The commission appointed Commissioner Hester Pierce as the task force’s lead. The announcement further revealed that Taylor Asher would be the Chief Policy Advisor and Richard Gabbert would be the task force’s Chief of Staff.

The commission’s announcement also outlined the issues with the previous regulatory course of action, calling it ‘retroactive and reactive.’ The commission pointed out that the path taken by the previous U.S. SEC leadership led to the implementation of untested regulations.

The announcement further outlined the issues with regulatory clarity, leading to vagueness about crypto service registration and solutions to any obstacles faced by registering individuals. The commission mentioned that the lack of clarity led to confusion, which further led to hurdles in crypto and blockchain innovation within the U.S.

The new task force will engage the rest of the commission’s staff and the public to create more sensible regulations. Uyeda expressed his anticipation of working with Pierce and other divisions of the commission to achieve regulatory clarity. The acting chair added that the process would require patience and contribution from industry participants, investors, crypto companies, academics, and other parties.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonight The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

Author Suzie

Sep 22, Tue

The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

Sep 23, Wed

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

Sep 24, Thu

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Gold Price Forecast: Gold Drops Below $4,300, Will It Continue to Fall? As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Author TradingKey

Sep 24, Thu

As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Popular Symbols