The CEO accepted the fact that despite Goldman Sachs exploring the market of digital assets, it couldn’t involve itself completely because of some legal factors.
The CEO also mentioned that the bank is cautious about transforming the legal environment even as he passed those statements.
If the legal factors change, the company will directly be involved in Bitcoin and Ethereum. Also, Goldman Sachs has so far made infrastructure revolving around digital assets.
The chief executive officer of Goldman Sachs, David Solomon kept his opinion regarding digital assets such as Bitcoin and Ethereum and how the company is still trying to involve in the market completely.
Solomon highlighted the future plan of the company to spread its wings even more in the market if there is any regulatory shift in the favor. The company has so far built an infrastructure that revolves around these technologies and offers consultancy services to its clients.
At the same time, it can not offer trading of digital assets like Bitcoin due to some legal factors. The CEO of Goldman Sachs, David Solomon discussed what the company thinks about cryptocurrencies such as Bitcoin and Ethereum.
He accepted the fact that despite Goldman Sachs exploring the market of digital assets, it couldn’t involve itself completely because of some legal factors. He further stated that the company is a regulated banking institution and also it is not allowed to trade Bitcoin, Ethereum, or any other virtual assets.
The company is waiting for regulatory shifts
The CEO also mentioned that the bank is cautious about transforming the legal environment even as he passed those statements. He said if the legal factors change, the company will directly be involved in Bitcoin and Ethereum. Also, Goldman Sachs has so far made infrastructure revolving around digital assets.
Adding more to this, Goldman Sachs revealed that it was all set to break its Blockchain-based digital assets platform in the coming one or two years in order to offer a well-organized way of managing the process of trading virtual assets.
If the regulatory environment is more favorable, the firm is all set to spread its wings in digital assets. He threw light on the regulatory shifts which will be mainly driven by the Trump government which will offer a more open and good platform for crypto markets.
What does the SEC Commissioner say?
Hester Peirce, the Commissioner of the Securities and Exchange Commission thinks a similar way as the CEO of the bank. She has demanded the SEC abolish its regulatory suppression of the industry and add more transparent guidelines as it would help reduce uncertainty and boost growth.
She also mentioned that a more cooperative process to adjust current crypto rules is very necessary. The company has tried to guide clients who are excited to involve themselves in the crypto market. The involvement starts from offering analysis of the crypto market and assisting clients on how to operate through the volatile environment.
