Morgan Stanley's top boss, James Pick, recently chatted with CNBC about the bank's stance on cryptocurrencies. He spilled the beans on how they plan to collaborate with U. S. regulators to dive deeper into the crypto world. This chat happened at the big-shot event, the World Economic Forum, in Davos, Switzerland.

Pick highlighted the bank's interest in serving as a middleman in crypto transactions. He wants the bank to help customers buy and sell cryptocurrencies securely. To make this happen, Morgan Stanley will team up with the Treasury Department and other regulators to figure out the best and safest way to do it.

Morgan Stanley has always been a trailblazer in the crypto scene among big U. S. banks. In 2021, they were the first to let wealthy clients invest in bitcoin funds. Last year, they led the way in offering bitcoin exchange-traded funds. All this was because their financial advisors kept getting questions about bitcoin from clients.

However, under the Biden administration, banks couldn't go full throttle into crypto. They could trade bitcoin derivatives, but not hold the actual coins. Goldman Sachs' CEO, David Solomon, echoed this recently, saying their hands are tied by current regulations.

But now, with the Trump administration's pro-crypto stance and the SEC's new regulatory framework plans, things might change. We'll have to wait and see how the conversation with regulators unfolds for Morgan Stanley and others.

Morgan Stanley's CEO on Crypto: Working with Regulators to Expand

Actions