Slowly but surely, the western world has been moving towards massive cryptocurrency adoption. Reuters reports that US banks have started holding internal discussions about expanding into cryptocurrencies as regulators move forward to support this move.
The initial steps, however, will be tentative, focusing on pilot programs, partnerships, or limited crypto trading.
While many of the large banks were previously blocked from engaging in any crypto-related activities, this new development certainly comes as positive news for the larger cryptocurrency community.
With banks stepping up, things could even turn for the better for the decentralized economy. And as this could be considered a prelude for more growth to come, finding the best crypto to buy now has become more important than ever.
Differing Opinions on the Matter of Crypto Adoption
While many banks are forthcoming about providing cryptocurrency services in some shape or form, custody is another matter altogether.
Jamie Dimon, the CEO of JPMorgan, recently made news that the top bank will provide the ability to buy cryptocurrency, but without custody services.
He said that even if there is regulatory ease around the matter, JPMorgan won’t get into custody.
“When I look at the bitcoin universe, the leverage in the system, the misuse in the system, the money laundering issues, trafficking, I’m not a fan of it,” Dimon said.
However, he does talk about defending people’s right to own Bitcoin, just like how he defends people’s right to “smoke.”
Some unnamed sources, as pointed out by Reuters, say that some banks are willing to get into the custody business through partnerships. This indirect nature is due to the risk custody services pose.
“The shift in the stance is encouraging for traditional lenders, but they are still approaching it with caution and viewing the changes in regulation as an opportunity to engage and not a free pass,” said Dario de Martino, A&O Shearman M&A partner who works on crypto-related issues.
Multiple crypto-friendly moves have been pushed forward under the Trump administration, which has encouraged banks to consider the possibility more seriously.
Bank of America, for instance, is planning to launch stablecoins this year, while Morgan Stanley claims that it wants to work with regulators to see how it can act as a middleman for crypto-related transactions.
Recently, US brokerage firm Cantor Fitzgerald executed its first transactions in its Bitcoin financing business.
While these developments are promising, banks are asking for clearer and more secure rules. Big banks are primarily focusing on anti-money laundering rules and supervision before they move forward with crypto-related transactions.
While banks are ready to embrace crypto (with some conditions, of course), there are some key points to consider. The “lack of middleman” is the entire point of diving into the cryptocurrency economy, and since many banks do act as intermediaries, the new rules, when they arrive, should clarify and redefine the banks’ role.
Best Crypto to Buy Now Amidst this Development
Banks asking regulators to come forth with clearer regulations means major changes could come for the DeFi sector as well. Cases could be made for the decentralized sector to adopt a type of hybrid model where traditional finance also has a voice. For now, however, these developments make it important to find the best picks—because if the banks step in, things could change by a massive degree.
Snorter
The impact of banks emerging within the cryptocurrency sector could take many forms—and all may not be positive. Therefore, those wishing to continue to interact with the cryptocurrency market the way it is now should look for alternate solutions—and Snorter offers something unique.
A utility project based around the Aardvark theme, Snorter (SNORT) is a meme coin powering a trading bot on Telegram, offering a full-trading environment for meme coin investors. It has developed a Solana routing engine that could deliver fast execution while preventing common rug vectors.
The focus of this project is to provide fast swaps while letting investors invest in meme coins quickly to experience parabolic gains within a short time period. It has also added perks such as copy trading to help traders follow top wallets.
A Solana-based ecosystem, Snorter’s Telegram bot is currently squarely focused on the Solana chain. With time, however, the goal is to also add support for Ethereum and BNB.
Such use-case-focused projects are far and few in number, which is why even 99Bitcoins, one of the biggest cryptocurrency analysts on YouTube, has recommended it.
“It could have 10x potential,” the host of the channel said. Considering this project has been able to raise over $140K in less than two days of launch, these words hold value.
Mind of Pepe
Banks’ focus on giving more clarity around cryptocurrency’s nature could result in changes to existing laws—most of which could challenge the notion of what a cryptocurrency is.
Mind of Pepe, however, is a meme coin project not embroiled in such philosophical questions. Its purpose is one: to engage with the cryptocurrency community through an AI-driven agent and provide market insights that could help members make better investment decisions.
With its presale about to be over in less than two days, Mind of Pepe has been able to raise over $11 million so far, which is astounding for a meme coin project.
With its AI agent already part of the meme coin conversation on X, Mind of Pepe has shown its cards as a utility-centric project. Furthermore, a unique AI terminal is also on the way, making this project one of the best picks for investors looking for a utility-driven cryptocurrency.
BTC Bull
Whatever regulations arrive, the Trump administration will potentially make sure that they are progressive. And given the president’s personal stake in Bitcoin, such regulations could boost its value. One of the main tokens that could gain from that growth is BTC Bull.
BTC Bull is a meme coin project that has found a way to tap into Bitcoin’s growth through token burns and Bitcoin airdrops.
This method involves unlocking these two mechanics whenever the Bitcoin price goes through a major price action. This simple narrative has helped the project raise upwards of $6 million to date—and more could happen if the market evolves further.
Experts like Crypto ZEUS agree that this memecoin could explode thanks to the ongoing bull run.
Conclusion
Banks being less apprehensive about crypto adoption could lead to both positive and negative outcomes, depending on what regulations emerge.
The current state of laws must redefine what banks’ roles could be—especially since being infrastructural “middlemen” goes against what cryptocurrency is all about. It has once again sparked a conversation around what could be the best crypto to buy, and the assets listed in this article do act as strong alternatives.
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