Goldman Sachs: Big evolution on the way for crypto regulation

Category: Americas Regulatory

More good news for crypto investors as Goldman Sachs CEO, David Solomon, predicts big evolution in cryptocurrency regulation

During an interview with America’s CNBC, Goldman Sachs CEO, David Solomon states that the cryptocurrency industry is growing and will continue to “evolve”. Solomon believes:


“I think there’ll be a big evolution as to how this evolves in the coming years. 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 states that Goldman Sachs is compliant with the current rules set outby regulators and the leading global investment bank is continuously trying to support the demand from their client base for bitcoin and other cryptocurrencies, by being as proactive as possible.

Solomon says that the investment bank can do this by helping “clients facilitate custody positions in digital assets.”

Bitcoin and cryptocurrencies are gaining popularity and more people want to invest in the space, therefore, Goldman Sachs are looking at continuous ways to support their client base due to a number of regulatory restrictions.

Goldman Sachs’ crypto position

Goldman Sachs has previously anticipated an explosion in bitcoin customer demand. This resulted in the investment bank in drawing up a framework in anticipation for this rising demand.

Goldman Sachs also make sure that they remain compliant with the existing regulation guidelines while they also keep in touch with other regulators and central banks to determine the way banks should be regulated when it comes to dealing with digital currencies.

Earlier this month, Goldman also relaunched their cryptocurrency trading desk, which includes projects in blockchain technology and central bank digital currencies. This decision was taken due to the sudden rise in demand for bitcoin and other related derivatives by potential investors.

Crypto Regulation

Back in February, AIBC took a look at the top 10 countries for progressive crypto and blockchain regulation. The standouts for their progressive way in thinking when it comes to crypto regulation were definitely – Dubai, Malta, Switzerland, South Korea and Estonia.

AIBC also did another piece, just last week, analysing the top 15 central banks that are taking on digital currencies after China launched their own digital yuan.

Source: news.bitcoin

About AIBC Dubai:

AIBC UAE will take place on the 25th to 26th May, 2021, in the emirate of Dubai. The event will bring together key brands and individuals from the converging sectors of AI, blockchain, IoT, Quantum Tech to discuss and shape the future of emerging tech.

It is one of the leading events globally for blockchain, AI, crypto, and other emerging technologies, and gathers together an elite selection of delegates, policymakers and thought leaders from across the globe. Such international recognition has helped propel AIBC Summit become a favourite on the world circuit for emerging tech conferences and expos.