U.S. Banks Explore Cryptocurrency Ventures with Cautious Approach

According to PANews, major U.S. banks are engaging in internal discussions about expanding their cryptocurrency operations, adopting a cautious strategy initially. Insiders reveal that while JPMorgan CEO Jamie Dimon maintains a critical stance on cryptocurrencies, he has indicated that customers will be allowed to purchase them. Meanwhile, Bank of America is considering issuing stablecoins, and Morgan Stanley is exploring the addition of cryptocurrencies to its electronic trading platform. Industry executives highlight the banks' anticipation for clearer anti-money laundering regulatory guidelines, with most institutions planning to enter the custody business through partnerships with existing crypto companies. Recent policy shifts by the Trump administration have paved the way for banks to participate in crypto custody and stablecoin activities. However, banking regulators have yet to join the task force led by the newly appointed crypto czar, David Sacks.