Current regulation of the cryptocurrency industry restricts banks’ ability to work with digital assets, but that will change over time. David Solomon, CEO of Goldman Sachs, said on CNBC.
“There are significant regulatory restrictions around us and us acting as a principle around cryptocurrencies like #bitcoin,” says $GS CEO David Solomon. “As our clients have demand to be involved in this space we can continue to find ways to support our clients.” pic.twitter.com/plRxHqmbsI
— Squawk Box (@SquawkCNBC) April 6, 2021
In Solomon’s view, the crypto market will continue to develop due to growing user demand.
“I think a major evolution will occur in the coming years. I won’t speculate about what exact changes will take place. But we are working within the current rules and will look for ways to further serve clients,” Solomon said.
Solomon added that the bank is closely watching the digital assets space:
“We continue to actively think about digital currency and the digitization of money, based on clients’ wishes,” he said.
Earlier in March, Goldman Sachs restarted the client operations department with cryptocurrencies.
Later the bank announced plans to open access to Bitcoin-based investment instruments in the second quarter of 2021.
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