According to Reuters, large banks in the United States are having internal discussions about expanding their cryptocurrency business, but will initially adopt a cautious strategy. According to informed sources, while J.P. Morgan CEO Jamie Damon maintains a critical stance towards cryptocurrencies, he has stated that he will allow customers to make purchases; Bank of America is considering issuing stablecoins; Morgan Stanley explores adding cryptocurrency to electronic trading platforms.
Industry executives pointed out that banks are looking forward to clearer anti money laundering regulatory guidelines, and most institutions plan to enter the custody business through cooperation with existing cryptocurrency companies. The Trump administration's recent policy shift has paved the way for banks to participate in activities such as cryptocurrency custody and stablecoins, but banking regulators have not yet joined the working group led by the new crypto czar David Sacks.
