Wall Street Ready To Dive In: CEOs Respond To Trump’s Ambitious Crypto Initiatives

In a noticeable change in feelings, Wall Street executive officials express the new optimism towards the encryption industry only from days. The second administration of President Donald Trump. This shift is largely due to the agenda of the forty -seventh president, supportive of the quarter, which represents a flagrant contradiction with his previous doubts during his first term.

Morgan Stanley CEO invites to increase encryption transactions

At the World Economic Forum in Davos, Switzerland, Ted Beck, CEO of Morgan Stanley, highlighted the bank’s interest in becoming more involved in encrypted currency transactions. he I mentioned“For us, the equation revolves around whether we, as a very organized financial institution, can act as transactions.”

Historically, the banks were careful about engaging with encryption, which is largely due to organizational uncertainty. Securities and Stock Exchange Committee (SEC) duty More than 200 coding measures since 2013, creating fear led to the strengthening of institutional adoption.

However, with the new administration of President Donald Trump refers to a more suitable organizational climate for digital assets, many executives re -evaluate their positions.

Trump has appointed many defenders of the cryptocurrency for the main roles within his administration. Among the prominent candidates are Paul Atkins for SEC President, Howard Lootnick of the Minister of Commerce, and the director of the hedge fund Scott Payet for the Treasury Treasury.

If this is confirmed, the Bessent will supervise the decisive departments that affect tax policies and compliance with digital asset transactions, which may pave the way for the broader acceptance of digital assets.

Morgan Stanley has already taken steps to communicate with encrypted currencies, to become the first main American bank to provide its wealthy customers with the ability to access bitcoin funds in 2021. The company also allowed its financial advisors to promote Funds circulating for exchange (ETFS).

Note that when Bitcoin becomes more firmly in the prevailing financing, its legitimacy will grow as a financial asset. “Whenever the trading is long, the perception becomes real,” commented.

SEC cancels SAB 121, reduces the regulatory burdens of banks

Despite optimism, the pioneer Road barriers It remains. An important accounting base established by the Supreme Education Council in 2022 requires banks to classify encrypted currencies as obligations on their public budgets, which imposes strict capital requirements that prevent banks from providing encryption nursery services.

He made efforts to cancel this rule, known as SAB 121, in support of the two parties in Congress, but was eventually considered a veto against President Joe Biden, leaving the organizational scene that represents a challenge for banks.

David Solomon, CEO of Goldman Sachs, admitted these obstacles, saying: “At the present time, from an organizational perspective, we cannot own Bitcoin.” However, he expressed his willingness to reconsider the case if the organizational framework develops.

In a great development, SEC recently canceled SAB 121, which can reduce some burdens on banks looking to deal with digital assets.

SEC Hyster Pierce Commissioner, which was hiring To lead the newly formed the “encryption squad”, it welcomed the decision, indicating a shift towards a more organizational environment to accommodate encrypted currencies.

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