Wall Street executives expressed growing interest in cryptocurrency, contingent on favorable United States regulations.

Morgan Stanley CEO Ted Pick emphasized the need for regulatory clarity due to the bank’s highly regulated nature.

Bank of America CEO Brian Moynihan noted that clear guidelines could accelerate cryptocurrency adoption as a payment method, similar to Visa and Mastercard.

US President Donald Trump, in his second term, has shifted to a pro-cryptocurrency stance. He issued an executive order to promote digital assets and nominating crypto advocates for key government roles.

Bitcoin hit an all-time high of US$110,000 ahead of Trump’s inauguration and remains strong at US$106,000.

Analysts believe the easing of regulatory constraints could drive increased institutional participation in the crypto market.