Goldman Sachs Predicts ‘Big Evolution’ Coming to Cryptocurrency Regulation


David Solomon, CEO of Goldman Sachs, predicts a major shift in crypto-currency regulation as customer demand for bitcoin continues to grow. He says Goldman will continue to find ways to serve its customers as it evolves.

Regulation of cryptocurrencies is facing a big change, according to Goldman Sachsdirector

David Solomon, CEO of global investment bank Goldman Sachs, shared his views on crypto currency regulation in an interview with CNBC this week.

As for the regulation of bitcoin and other cryptocurrencies, a Goldman Sachs executive said he believes cryptocurrencies are an evolving space, predictably:

I think in the next few years there will be a big development in the way this will develop.

The CEO of Goldman Sachs stressed that his company was operating within the rules set by regulators: I’m not going to speculate on how the rules for regulated financial institutions will evolve, but we will continue to look for ways to serve our clients as we evolve.

Solomon said Goldman Sachs is focusing on how to support customer demand for bitcoin and other cryptocurrencies. We continue to think very actively about digital currencies and the digitization of money, he said, specifically pointing out that his company can help clients simplify the process of depositing digital assets.

The Goldman Sachs chief reiterated: If our customers demand commitment in this area, we can continue to look for ways to help our customers… It is the lens through which we really see. Solomon clarified:

There are significant regulatory restrictions around us, and we operate on the principle of cryptocurrencies like bitcoin.

Goldman Sachs recently reestablished its bitcoin trading desk and will offer a full range of bitcoin investments. The company sees strong institutional demand for bitcoin.

Do you agree with the CEO of Goldman Sachs on the upcoming regulatory developments in the crypto space? Let us know your comments in the section below.

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