In a notable change of sentiment, Wall Street executives are expressing a newfound optimism toward the crypto industry just days into President Donald Trump’s second administration. This shift is largely attributed to the 47th President’s pro-crypto agenda, which marks a stark contrast to his previous skepticism during his first term.

Morgan Stanley CEO Advocates For Increased Crypto Transactions

At the World Economic Forum in Davos, Switzerland, Morgan Stanley CEO Ted Pick highlighted the bank’s interest in becoming more involved in cryptocurrency transactions. He stated, “For us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors.” 

Historically, banks have been cautious about engaging with crypto, largely due to regulatory uncertainties. The Securities and Exchange Commission (SEC) has enforced over 200 actions related to crypto since 2013, creating a trepidation that has stymied institutional adoption. 

However, with President Donald Trump’s new administration signaling a more favorable regulatory climate for digital assets, many executives are reevaluating their positions.

Trump has appointed several advocates for cryptocurrency to key roles within his administration. Notable nominees include Paul Atkins for SEC chair, Howard Lutnick for Secretary of Commerce, and hedge fund manager Scott Bessent for Treasury. 

If confirmed, Bessent would oversee crucial departments that influence tax and compliance policies for digital asset transactions, potentially paving the way for broader acceptance of digital assets.

Morgan Stanley has already taken steps to engage with cryptocurrencies, becoming the first major US bank to offer its wealthy clients access to Bitcoin funds in 2021. The firm has also allowed its financial a

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Author: Ronaldo Marquez

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