Major US banks weigh potential entry into cryptocurrency market — Reuters

Motivated by regulatory changes, major US banks are cautiously exploring the possibility of entering the cryptocurrency market, Reuters reports. However, many remain hesitant to take proactive steps. Full-scale operations will likely be preceded by limited trading of these assets, pilot programs, and partnerships with existing cryptocurrency firms.

The agency notes that US President Donald Trump has actively supported integrating cryptocurrency into the financial system. Meanwhile, banks are awaiting clearer regulatory guidance before making significant moves.

JPMorgan Chase CEO Jamie Dimon remains skeptical of these initiatives, citing risks such as money laundering and other illicit activities. Nevertheless, the bank will soon allow clients to purchase cryptocurrencies, though it will not offer storage services.

Most banks view entering the cryptocurrency market as a promising yet high-risk venture. Analysts quoted by Reuters suggest that once one major institution successfully expands into crypto, others will likely follow with small-scale pilot projects.