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Market
Which major financial firm will first announce plans to enter the crypto custody market by end of 2024?
5
Resolution / Starting Odds
Goldman Sachs • 33%
JP Morgan • 33%
Morgan Stanley • 33%
Official announcements from the firms and news reports
Story
President Biden Vetoes Bill Backed by Eight Congressmen, One Senator to Allow Financial Firms to Custody Bitcoin
May 31, 2024, 11:03 PM
President Joe Biden has vetoed a bill that would have allowed highly regulated financial firms to custody Bitcoin and other cryptocurrencies. The bill, which had bipartisan support from eight Congressmen and one Senator, aimed to overturn the SEC's Staff Accounting Bulletin 121 (SAB 121), which imposes stringent guidelines on how financial institutions handle crypto assets. This decision has drawn criticism from various quarters, with some accusing Biden of being anti-crypto and siding with the SEC's restrictive stance. The veto has significant implications for the crypto industry, as it maintains the current regulatory hurdles for financial institutions looking to enter the crypto custody space.
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Goldman Sachs • 25%
Morgan Stanley • 25%
Citigroup • 25%
Bank of America • 25%
Goldman Sachs • 25%
JPMorgan Chase • 25%
Morgan Stanley • 25%
Citibank • 25%
Vanguard • 20%
Charles Schwab • 20%
JP Morgan • 20%
Goldman Sachs • 20%
Other • 20%
More restrictive • 33%
Less restrictive • 33%
No change • 33%
Bank of America • 20%
JPMorgan Chase • 20%
Wells Fargo • 20%
Citi • 20%
None by the end of 2024 • 20%
Robinhood • 25%
Kraken • 25%
Coinbase • 25%
Uniswap • 25%
JPMorgan • 10%
BNY Mellon • 10%
Franklin Templeton • 10%
State Street • 10%
BNP Paribas • 10%
Citi • 10%
U.S. Bank • 10%
ANZ Bank • 10%
Euroclear • 10%
None of the above • 10%
Coinbase • 25%
Binance • 25%
Ripple • 25%
Other • 25%