Morgan Stanley CEO Ted Beck recently said that the bank will cooperate with US regulators to explore its potential involvement in cryptocurrency markets. Beck stressed that the focus is on determining whether the bank, as a highly regulated institution, can safely engage in cryptocurrency transactions. He highlighted 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 the wealth management space, offering bitcoin funds and ETFs to wealthy clients. However, under the Biden administration, banks are limited to trading bitcoin derivatives, not holding actual bitcoin, a point also emphasized by Goldman Sachs CEO David Solomon.
