Morgan Stanley CEO Ted Pick to Work with U.S. Regulators on Safer Crypto Offerings

Jan 23, 2025, 03:17 PM

Morgan Stanley CEO Ted Pick announced that the bank, a juggernaut in the wealth management industry, is planning to collaborate with U.S. regulators, including the Treasury Department, to explore safer methods for offering cryptocurrency transactions to its clients. This move comes as part of Morgan Stanley's ongoing efforts to deepen its involvement in the cryptocurrency market, having previously been the first major U.S. bank to offer bitcoin funds to its wealthy clients in 2021 and to lead in offering bitcoin ETFs last year. The initiative is influenced by the pro-crypto stance of the current Trump administration, which has prompted the Securities and Exchange Commission to develop a regulatory framework for digital currencies. Morgan Stanley's stock is traded under the ticker symbol $MS.