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Top U.S. banks are quietly preparing to enter the crypto market through cautious pilot programs and partnerships, as regulators offer clearer signals. While enthusiasm grows, most lenders remain hesitant, seeking more clarity on rules before committing heavily.
Major U.S. banks are holding internal talks about cautiously expanding into cryptocurrencies, spurred by more favorable regulatory signals under the Trump administration. According to industry executives, initial moves will focus on pilot programs, partnerships, or limited trading to avoid regulatory missteps.
While some firms, like JPMorgan Chase, remain skeptical, others - such as Charles Schwab, Bank of America, and Morgan Stanley - are exploring services like crypto custody, stablecoins, and crypto trading platforms. Schwab expects to offer spot crypto trading within a year.
Still, banks are seeking clearer, unified guidelines from regulators, especially around anti-money laundering, custody, and market-making roles. Some firms are even discussing a joint stablecoin project.
Despite easing rules, including scrapped SEC guidance and friendlier stances from the OCC, banks are approaching crypto with caution. Industry experts say more defined regulations are needed before large-scale banking involvement becomes a reality.
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