Goldman Sachs Predicts ‘Big Evolution’ Coming to Cryptocurrency Regulation
Goldman Sachs CEO David Solomon foresees “big evolution” coming to cryptocurrency regulation as demand for bitcoin from clients continues to rise. He says that Goldman will “continue to find ways to serve our clients as we move forward.”
Crypto Regulation Will Experience ‘Big Evolution,’ Says Goldman Sachs’ Chief
David Solomon, the CEO of global investment bank Goldman Sachs, shared his view on cryptocurrency regulation in an interview with CNBC this week.
Regarding the regulation for bitcoin and other cryptocurrencies, the Goldman Sachs executive said he thinks that cryptocurrency “is a space that’s evolving,” predicting:
I think there’ll be a big evolution as to how this evolves in the coming years.
Emphasizing that his company operates within the rules set by regulators, the Goldman Sachs CEO noted: “I’m not going to speculate on where the rules will go for regulated financial institutions, but we’re going to continue to find ways to serve our clients as we move forward.”
Solomon detailed that Goldman Sachs is focused on how to support demand from clients for bitcoin and other cryptocurrencies. “We continue to think about digital currencies and the digitization of money in a very proactive way,” he opined, mentioning specifically that his firm “can help clients facilitate custody positions in digital assets.”
The Goldman Sachs chief reiterated: “As our clients have demand to be involved in this space we can continue to find ways to support our clients … That’s the lens that we’re really looking through.” Solomon clarified:
There are significant regulatory restrictions around us and us acting as a principle around cryptocurrencies like bitcoin.
Goldman Sachs recently brought back its bitcoin trading desk and will be offering a “full spectrum” of bitcoin investments. The firm is seeing huge institutional demand for bitcoin.
Do you agree with Goldman Sachs’ CEO about regulatory evolution coming to the crypto space? Let us know in the comments section below.