Trump crypto plans are excited with the General Director of Wall Street with digital assets

Just day President of Donald Trump Second Administration, Wall Street sings another tune in cryptography.

“For us, whether we really have equation, a a highly regulated financial institutionThey can act as a transactor “, Morgan Stanley Ceo Ted pick told Cnbcri Thursday World Economic Forum Davos, Switzerland.

The new optimism found among more bank directors in Davos this week is related to Trump Cryptography Agenda. Trump, crypto-skeptical voice at his first term, capsize About the topic during the 2024 campaign and was based Cryptial money money Kamala Harris in an effort to defeat the former vice president.

The President released on Thursday Extensive crypt orderemphasizing digital assets use and development “protect and promoting”. Banks reluctantly supported cryptography and allows transactions to this point to largely due to the attitude of the government. SECK has led to more than 200 enforcement acts related to cryptography currency since 2013, According to Cornerstone Research.

“We will work with the Treasury and other regulators to know how we can safely know that,” Pick said.

Trump has appointed several cryptographic defenders for critical positions in its administration. Such Paul Atkins was headed to the Securities and Exchange Commission, where George W. Bush was a commissioner dependent on President. Howard Lutnick, Cantor Fitzgerald, Choosing Trump to the Secretary of Commerce, and Scott Bessent was selected to direct the coverage fund manager.

If the BESSENT would oversee the network of IRS and financial crime enforcement network to adapt the tax and compliance policies for crypto transactions that both meet key roles and implementation of cryptography in the US.

Pick says Morgan Stanley will work with federal regulators to determine if the bank is possible to deepen the links with cryptography currency markets. His company has been more aggressive than the members of Wall Street.

In 2021Morgan Stanley became the first largest bank in the USA provides access to Bitcoin funds to the rich customers. Last August, it was the first major player in Wall Street To stop his financial advisors Start putting customers in some Bitcoin exchange treated funds launched at the beginning of last year. To date, wealth management companies have easier to trade customers if customers have requested exposure to new witnesses.

Pick suggested the more Bitcoin into the mainstream, the more it is seen as a legitimate part of the financial system.

“The more time negotiating, the perception becomes a reality,” he said.

Bank of America Ceo Brian Moynihan He stated the echo of the will of the cryptography, specifically as a payment option, if the regulatory environment changes under the new administration. By speaking Davos, Moynihan stressed that clear guidelines can unlock a wider adoption.

“If the rules come in and make the business you can do as a real thing that you can do, you will see that the banking system will be hard into transaction,” Moynihan said. Conversation on Tuesday with CNBC.

Moynihan, who directs the second largest bank according to the US assets, stated that cryptography “can become another way to pay”, for example. Visa, Mastercard or Apple Pay. However, cryptography-currencies like Bitcoin stop discussing the investment or value store, calling “a separate question”.

Another major obstacle to take cryptography-currencies has been an accounting rule, issued by Seck 2022, requiring banks to classify crypto-currencies as passive in their balances. These active rules have declared a sharp capital requirements, significantly increasing financial and regulatory risks for providing crypto surveillance services.

Efforts to cancel the rule known as SAB 121 in the Congress obtained bilateral support from last year. But Then Joe Biden President He put him on the proposed legislation, leaving the rule by leaving it and advising the bank to take digital assets. Banks have been largely forbidden to expand the cryptography offer beyond the trade of derivatives and provide ETFs to managing wealth.

“At the moment, from the point of view of the regulations, we cannot possess” bitcoin, Goldman Sachs Director General David Solomon said CNBC this week in an interview with Davos. The bank said he would review the topic if changing the rules.

Thursday evening, Sec Canceled SAB 121, may open the door to the care of conventional assets without charging capital requirements.

“Goodbye, Goodbye Sab 121! It’s not fun,” he wrote to Hester Peirce SEC curator. On Tuesday Pressed a new “crypto-team” Publish in X Thursday after the decision.

Bitcoin got a record of almost $ 110,000 before the inauguration of Trump on Monday, leading wider gains in the cryptography market. From Friday noon, it was sold about $ 106,000.

– CNBC Hugh Son helped this report.