Goldman Sachs CEO Expects Huge Transition to Crypto Regulation

By: Mark Jessy

April 13, 2021 1:47 AM

David Solomon the CEO of Goldman Sachs expects a big transition to come to crypto regulation as clients' bitcoin demand soars.

According to Solomon, Goldman Sachs's client's bitcoin demand continues to rise as the crypto market hits record highs. He said that Goldman will keep seeking the best possible ways to serve clients as they move forward.

Speaking with CNBC this week, the CEO of Goldman Sachs shared his views on cryptocurrency regulation. During the interview, the Goldman Sachs executive said he believes that the crypto industry is still evolving as he foresees a big evolution to the cryptocurrency space in the coming years.

Nevertheless, the CEO emphasized that Goldman operates within the current crypto laws set by regulators. He added: 

"I will not speculate on where the rules will go for the regulated financial institutions, but certainly we will seek ways to serve our clients moving forward."

Solomon also shared how his company is working to support clients' demand for bitcoin and other digital currencies alike. He says "we will continue to think about digital currencies and the digitization of money proactively." 

Solomon clarified: There are notable regulatory restrictions around us currently which act as a principle around digital assets such as bitcoin. However, as our clients seek to be involved in this space we will continue to find ways to offer our support, the Goldman Sachs executive repeated.

As institutional demand for Bitcoin increases, the global investment bank reopened its trading desk as they look to offer their clients a chance to invest in bitcoin.