Morgan Stanley to Add Crypto Trading on E*Trade as Fed Eases Restrictions
Morgan Stanley is preparing to offer cryptocurrency trading on its E*Trade platform. This would be the most direct move so far by a major US bank to let retail users buy and sell digital assets.The move comes amid regulatory changes in the United States. On Thursday, the Federal Reserve officially removed two supervisory letters that had discouraged banks from engaging in crypto-related activities. The change means state member banks no longer need to notify the Fed in advance of planned or current crypto-asset activities. These will now be reviewed through the standard supervisory process.Crypto Trading Coming to E*TradeThe plan is still in its early stages. According to Bloomberg, the launch may take place next year. The bank is exploring partnerships with crypto-native firms to support the technical side of the trading system.Morgan Stanley already offers some crypto-related products, such as ETFs, options, and futures. These are aimed at wealthier clients. The new plan would expand access to a broader group of users.JUST IN:
Morgan Stanley is preparing to offer cryptocurrency trading on its E*Trade platform. This would be the most direct move so far by a major US bank to let retail users buy and sell digital assets.
The move comes amid regulatory changes in the United States. On Thursday, the Federal Reserve officially removed two supervisory letters that had discouraged banks from engaging in crypto-related activities. The change means state member banks no longer need to notify the Fed in advance of planned or current crypto-asset activities. These will now be reviewed through the standard supervisory process.
Crypto Trading Coming to E*Trade
The plan is still in its early stages. According to Bloomberg, the launch may take place next year. The bank is exploring partnerships with crypto-native firms to support the technical side of the trading system.
Morgan Stanley already offers some crypto-related products, such as ETFs, options, and futures. These are aimed at wealthier clients. The new plan would expand access to a broader group of users.
JUST IN:
