BlockBeats reported on August 11 that according to Bitcoinist, John Reed Stark, former head of the Internet Enforcement Division of the U.S. Securities and Exchange Commission (SEC), said that Morgan Stanleyâs latest move to massively promote Bitcoin exchange-traded funds (ETFs) to its clients may lead to stricter regulatory scrutiny of the U.S. bank.
Earlier this week, the Wall Street giant announced plans to allow its 15,000 licensed financial advisors to begin marketing Bitcoin spot ETFs to clients, including BlackRockâs IBIT and Fidelityâs FBTC. But only for high-net-worth individuals with a net worth of $1.5 million or more and high risk tolerance.
