Morgan Stanley’s partner rejected by regulators? That stings.
Zerohash, the company that manages all the crypto infrastructure behind Morgan Stanley’s E*Trade, has just received a door shut in its face from a U.S. banking regulator in its attempt to become a trust bank. They didn’t approve the license. Far from giving up, the company announced that it will reapply and expects a quick decision. The key detail: if this eventually gets approved, Morgan Stanley would have a direct, regulated route to custody crypto at scale.
My take: this is short-term noise, but underneath it’s bullish. Every time an institution of this size fights to get into the regulated system, the market ultimately wins.
Do you think institutional pressure will force regulators to open the door, or will they keep blocking everything they can?
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Zerohash, the company that manages all the crypto infrastructure behind Morgan Stanley’s E*Trade, has just received a door shut in its face from a U.S. banking regulator in its attempt to become a trust bank. They didn’t approve the license. Far from giving up, the company announced that it will reapply and expects a quick decision. The key detail: if this eventually gets approved, Morgan Stanley would have a direct, regulated route to custody crypto at scale.
My take: this is short-term noise, but underneath it’s bullish. Every time an institution of this size fights to get into the regulated system, the market ultimately wins.
Do you think institutional pressure will force regulators to open the door, or will they keep blocking everything they can?
$BTC $ETH $BNB