Goldman Sachs: Will consider BTC and Ethereum transactions if US regulations change

Goldman Sachs CEO David Solomon publicly stated on Tuesday that the firm will evaluate participating in BTC and EthercoinSpot trading if U.S. regulatory rules change. (Background: Goldman Sachs CEO David Solomon expressed that if U.S. regulatory rules change, the firm will evaluate participating in Cryptocurrency. According to The Block, Solomon stated at the NEXT conference hosted by Reuters on Tuesday that regulatory institutions need to change current regulations to allow banks to do so. ‘This is a question you have to ask the regulatory institutions. Currently, as a regulated banking institution, we do not allow holding Cryptocurrency like BTC as principal. We provide advice to clients on various technical and issues and will continue to do so, but currently from a regulatory perspective, our ability to take action in the Cryptocurrency market is extremely limited.’ Solomon added that he does believe that Cryptocurrency and Blockchain technology are solving problems and they are currently being followed by many, as there is a view that the regulatory framework will develop in a way different from the previous government. He admitted that it is currently unclear how the regulatory rules will evolve, but he is very optimistic that this government will ‘implement a very growth-friendly agenda.’ If the regulatory structure changes, the firm will evaluate BTC and Ethercoin trading When asked whether ‘Goldman can make markets on BTC or Ethercoin,’ Solomon pointed out: If the regulatory structure changes, we will evaluate it, but currently we are not allowed to do so. At the same time, Solomon reiterated his view on BTC as a ‘speculative asset,’ but he also described Cryptocurrency as an ‘interesting technology.’ He said: These digital assets, such as BTC, you know they are currently speculative assets. But people are very interested in them. I understand why. Goldman deeply cultivates the Blockchain field: splitting the digital asset platform, entering RWA Goldman launched a digital asset service platform in 2021, according to Bloomberg, Reuters reported in mid-November that Goldman is planning to split its digital asset platform, create a new company, and create a new independent company independent of Goldman and its digital asset business. The platform, called GS DAP, is a blockchain-based technology platform designed to simplify institutional trading and reduce Settlement time, ultimately for ‘industry ownership,’ allowing banks to use Blockchain to trade cash and financial instruments such as bonds more efficiently. Goldman’s goal is to execute the split in the next 12 to 18 months, pending regulatory approval, but the firm itself will continue to develop its digital asset business. Goldman’s global head of digital assets, Mathew McDermott, also revealed in July that as ‘customer interest in Cryptocurrency rises significantly,’ they are preparing to launch three tokenization products for some of their major institutional clients, and Goldman also plans to create a market for real-world assets (RWA). In addition to the layout related to Blockchain technology, Goldman also reported in its latest 13-F form submitted to the U.S. Securities and Exchange Commission (SEC) that as of the third quarter of this year, it held a value of about $718 million in the U.S. BTCSpot ETF, an increase of over $300 million from the previous quarter, highlighting the trend of increasing interest in Cryptocurrency by traditional institutions. Related reports Trump hopes BTC will ‘break $150,000’ early in his term: recent gains are largely due to me… Amazon may invest 5% of its assets in BTC? CZ responded: Just accept BTC payments, it’s simple Breaking news: Microsoft’s board vetoed investing in BTC Netizens: Will regret today’s mistakes in ten years (Goldman Sachs: If U.S. regulations change, will consider BTC and Ether trading) This article was first published on MotionZone BlockTempo, the most influential Blockchain news media.