Wall Street giants are finally preparing to join the world of cryptocurrencies, thanks to Donald Trump’s ongoing campaign to boost the digital assets sector, especially after his recent executive order.
According to CNBC, top financial executives are warming up to cryptocurrencies — a massive shift from a segment that previously ignored Bitcoin and other digital assets.
Just days into President Donald Trump’s second administration, Wall Street is singing a different tune about cryptocurrencies. “For us, the equation is about whether we, as a highly regulated financial institution, can operate as dealers,” Ted Beck, CEO of Morgan Stanley, told CNBC.
The recent executive order removed regulatory hurdles for cryptocurrencies, placing digital assets such as… iDegen To achieve impressive growth in the coming cycles.
Unclear regulations have affected the cryptocurrency market over the past years.
However, this may end with Trump’s executive order that prioritized “promoting and protecting” the development and use of cryptocurrencies.
iDEGEN is a new AI-powered crypto asset that has gone viral over the past few weeks, with its lucrative pre-sale raising over $18 million (so far).
The project leverages artificial intelligence and cryptocurrency enthusiasts on X (Crypto Twitter) to learn and respond to every tweet.
Its unique approach and dynamic pricing model has seen over 21,330 owners gain over 13,100% in profits since its launch a few weeks ago.
Let’s explore the changing landscape of the US cryptocurrency market and what to expect from iDEGEN’s early stage in the coming sessions and months.
Trump removes regulatory challenges for cryptocurrencies
The new policies address challenges that have frustrated cryptocurrency enthusiasts.
Many complained about the SAB 121 accounting rule issued by the Securities and Exchange Commission in 2022, which required banks to classify cryptocurrencies as liabilities.
The rule prohibits financial institutions from offering cryptocurrency custody services by imposing strict capital requirements.
However, invezz’s latest updates show that the agency has withdrawn SAB 121.
This has removed one of the major challenges facing financial institutions interested in cryptocurrencies.
BREAKING: 🇺🇸 SEC repeals SAB 121, paving the way for banks to provide… #Bitcoin Nursery services. This is a game changer.
Wall Street executives are jumping on the cryptocurrency bandwagon
Wall Street CEOs reiterated their positive stances on cryptocurrencies during the recent World Economic Forum (WEF) in Davos, Switzerland.
Morgan Stanley’s Ted Beck confirmed that his company will cooperate with the Treasury Department and other authorities to identify ways to safely provide cryptocurrency services.
The financial giant has heralded cryptocurrency developments over the past years, often pushing the boundaries before its peers.
Morgan Stanley shocked the financial sector after becoming the first US bank to offer its clients access to Bitcoin funds in 2021.
Starting in 2024, the institution will allow its advisors to promote Bitcoin exchange-traded funds (ETFs) to clients.
Also, Bank of America President Brian Moynihan welcomed the cryptocurrency changes aimed at promoting cryptocurrencies in the United States.
Regulatory Clarity Makes All Banks Excited About Cryptocurrencies Brian Moynihan, CEO, Bank of America “If the rules come in and make it a real thing that you can actually deal with, you’re going to find that the banking system is going to struggle on the transaction side of it,” he said.
While Moynihan declined to endorse cryptocurrencies as investment assets, he compared the cryptocurrency payment tool to Apple Pay or Visa.
IDGN pre-sale ends in 30 days
Ongoing US regulatory shifts demonstrate timing for iDEGEN and its expected growth in the coming months.
The AI project will close its multi-million ICO on February 26 before debuting on cryptocurrency exchanges the next day.
Friendly crypto regulations, AI capabilities, and IDGN position expected by 2025 for massive gains.
iDEGEN is trading at $0.038, offering a lucrative discount to enthusiasts before targeting levels above $1 after the start of exchange listings on February 27.
You can learn more about iDEGEN (IDGN) here.
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