TechFlow reports on January 24, according to The Block, JPMorgan CEO Jamie Dimon said in a podcast that while the bank provides banking services to certain crypto companies, it could face millions of dollars in fines if issues arise. He urged regulators to allow banks to explain the reasons for terminating services and to establish clearer compliance guidelines.
Meanwhile, Bank of America CEO Brian Moynihan stated that if regulatory rules are clear, the banking industry will aggressively enter the crypto space. Goldman Sachs CEO Solomon and Morgan Stanley CEO Pick expressed similar views but emphasized the need for regulatory framework support. Travis Hill, the newly appointed acting chairman of the FDIC under the Trump administration, has indicated that clearer guidance on bank collaboration with crypto businesses will be provided, which may signal a shift in regulatory stance.
