Morgan Stanley Sees Crypto-Banking Regulation Arriving Faster Than Expected

Morgan Stanley Sees Crypto-Banking Regulation Arriving Faster Than Expected
Regulators are looking to develop a set of rules for crypto banks sooner than expected, according to a research note from Morgan Stanley published last week.This follows a joint statement from the Federal Reserve, Federal Deposit Insurance Corp. (FDIC) and Office of the Comptroller of the Currency (OCC) on Nov. 23 that outlined a “policy-sprint” to develop rules for firms offering services in the crypto space.It was already known that regulators were working on this framework, the report says, but their “sense of urgency” on the matter is a positive for getting new rules in place “sooner rather than later.”“Well-crafted…