SI - U.S. crypto sprint upcoming clarity may benefit crypto bank stocks Morgan Stanley says
Morgan Stanley analyst Ken Zerbe thinks the "crypto sprint" initiative, a roadmap for how banking regulators plan to create a framework around crypto-related services that could be offered by banks, underscores regulators' sense of urgency on the matter, he writes in a note to clients. "Policymakers are progressing toward a regulatory framework for crypto-related banking services faster than we previously thought," Zerbe notes. On the flip side, Rosenblatt analyst Sean Horgan thinks crypto regulation will be a slow, measured process. Zerbe expects more regulatory clarity on crypto-related services throughout next year, "which could be a positive for Silvergate (NYSE:SI) and Signature Bank (NASDAQ:SBNY)." "Well-crafted regulation will help to promote the adoption of crypto-assets and their related services," he adds. Some other crypto bank stocks that may also benefit from a regulatory framework include Customers Bancorp (NYSE:CUBI), Metropolitan Bank (NYSE:MCB) New York Community Bank (NYSE:NYCB), National Bank (NYSE:NBHC) and Triumph (NASDAQ:TBK). In
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U.S. crypto sprint, upcoming clarity may benefit crypto bank stocks, Morgan Stanley says