Goldman Sachs Eyes Bitcoin and Ethereum with Regulatory Shift
The CEO of Goldman Sachs has confirmed that the investment bank is willing to get involved in cryptocurrency business if the regulatory environment changes under President Donald Trump.
The CEO said U.S. regulations need to be more conducive to asset managers entering the cryptocurrency market.
Goldman Sachs CEO calls for regulatory changes
in a speech Reuters conferenceCEO David Solomon said on Tuesday that the existing regulatory framework must evolve so that the company can invest directly in Bitcoin and Ethereum. He added that there is a lot of attention being paid to the cryptocurrency space right now, but it is unclear how the new administration will change regulations.
“Currently, from a regulatory perspective, our ability to take action in these (cryptocurrency) markets is extremely limited,” the CEO said.
He further clarified that while Goldman Sachs has explored digital assets, as a regulated financial institution it cannot buy or sell cryptocurrencies like this Bitcoin or Ethereum at the moment.
However, the company does own a large stake in Bitcoin ETF. according to a Archive Effective November 14, with the U.S. Securities and Exchange Commission Goldman Sachs holds 8 ETFs worth approximately US$718 million. The bank has invested $461 million in BlackRock Bitcoin ETFwait.
Goldman Sachs CEO David Solomon made the remarks during the presidential election Donald Trump Promising a crypto-friendly government.
He chose cryptocurrency advocate Paul Atkins as SEC Chairmanthe president appears to have kept his word. The U.S. Securities and Exchange Commission is now more likely to take a friendlier stance toward cryptocurrency investors.
at the same time, AxiosSources revealed that Donald Trump apparently “hopes” that Bitcoin will continue to rise and eventually break $150,000 after taking office.
“This is another stock market for him. Trump wants Bitcoin to hit $150,000 by the beginning of his presidency,” a high-level transition source said.
Last week, Trump took credit for Bitcoin’s surge to a record high of $100,000.
“Congratulations Bitcoin lovers! $100,000! You’re welcome!!!” Trump release.
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