Top CEOs from Wall Street firms expressed optimism about increased involvement in the cryptocurrency sector if the Trump administration implements favorable regulations. Their confidence stems from Trump's pro-crypto stance and his appointment of crypto-friendly individuals to key positions within his administration. Banks are particularly interested in offering crypto custody services and facilitating transactions, but regulatory hurdles and accounting rules have hindered their progress. With Trump's administration now in power, there is hope for a more supportive regulatory environment that could unlock broader crypto adoption by financial institutions.
Wall Street's top CEOs told CNBC from Davos, Switzerland, this week that they're ready to go bigger in crypto if the Trump administration rolls out favorable policies.
"We'll be working with Treasury and the other regulators to figure out how we can offer that in a safe way," Pick said. Pick suggested that the more bitcoin seeps into the mainstream, the more it's viewed as a legitimate part of the financial system.echoed a willingness to embrace crypto, specifically as a payment option, if the regulatory environment shifts under the new administration. Speaking in Davos, Moynihan emphasized that clear guidelines could unlock broader adoption.
Finance CRYPTOCURRENCY REGULATION BANKING TRUMP ADMINISTRATION INVESTMENTS
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