Toby Morgan - Bitcoin Info News

Morgan stanley is considering offering cryptocurrency trading on its e-trade brokerage platform. Key Takeaways:- Morgan Stanley is exploring cryptocurrency trading on its E-Trade platform, pending regulatory approval from the Federal Reserve.- If implemented, Morgan Stanley's E-Trade would compete with major crypto exchanges like Coinbase. According to a report by The Information first reported on January 2, the effort is predicated on assumptions of a friendlier regulatory regime in the second Trump administration. The proposed offering would grant E-Trade customers direct access to major cryptocurrencies such as Bitcoin and Ethereum. For that, however, the bank needs to get regulatory approval from the Federal Reserve, as Morgan Stanley is a bank holding company. During the re-election campaign, Donald Trump vowed to make the U.S. the number one cryptocurrency innovator in the world. Appointing crypto-friendly chiefs in different regulating bodies is one of the main approaches his administration uses to help drive the growth of the sector. Industry watchers say such policy moves could set the regulatory environment right for financial giants such as Morgan Stanley to venture into the space. The development comes after Morgan Stanley acquired E-Trade in 2020 for $13 billion to extend the bank's wealth management arm through E-Trade's massive clientele and assets under management. If implemented, it would pit E-Trade against leading cryptocurrency exchanges such as Coinbase, further closing the gap between mainstream finance and digital currencies. Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.

Author: Toby Morgan

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