FILE PHOTO: Representations of cryptocurrency bitcoin are seen in this illustration picture created in Paris, France, March 9, 2024. REUTERS/Benoit Tessier/Illustration/File Photo
NEW YORK (Reuters) -Big U.S. banks are holding internal discussions about expanding into cryptocurrencies as they get stronger endorsements from regulators, but initial steps will be tentative, centering on pilot programs, partnerships or limited crypto trading, according to four industry executives. Wall Street giants that had been largely blocked from many crypto activities by strict regulations are poised to grow quickly.
Yet the biggest lenders are still hesitant to be the first among rivals to expand too heavily into crypto in case they fall afoul of changing rules, said the four executives, who declined to be identified since they were discussing internal business plans.
