US Banks Cautiously Explore Crypto Amid Regulatory Shifts

Major US banks are cautiously considering expanding into cryptocurrencies as regulatory endorsements grow. While Wall Street firms had previously been restricted from crypto activities, they are now exploring pilot programs, partnerships, and limited trading.

Despite the shifting regulatory landscape, banks remain hesitant to make significant moves, fearing potential rule changes. JPMorgan CEO Jamie Dimon reaffirmed his skepticism, stating that while customers can buy bitcoin, the bank will not offer custody services.

US President Donald Trump has pledged to support digital assets, aiming to establish a strategic bitcoin reserve. Meanwhile, financial institutions seek clearer guidelines before fully embracing crypto-related ventures.

Some banks, including Morgan Stanley and Bank of America, are exploring stablecoin initiatives and crypto-related services, but broader adoption hinges on regulatory clarity.