Large US banks are in internal discussions about expanding their cryptocurrency businesses, but will initially adopt a cautious approach. Jamie Dimon, chief executive of JPMorgan Chase, maintained his critical stance on cryptocurrencies but said he would allow customers to buy them; Bank of America considered issuing stablecoins; and Morgan Stanley explored adding cryptocurrencies to electronic trading platforms, according to people familiar with the matter.
Industry executives point out that banks expect clearer guidance on anti-money laundering regulations, with most planning to enter the custody business by partnering with existing crypto companies. The Trump administration's recent policy shift has paved the way for banks to engage in crypto custody, stablecoins, and other activities, but bank regulators have yet to join the task force led by new crypto czar David Sacks.
Reuters: Large U.S. banks cautiously enter the cryptocurrency space
2025-05-29 00:09:27
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