ARIA | News

Goldman Sachs Eyes Crypto Trading Expansion under Favorable U.S. Regulations

by aria-crypto.com

December 10, 2024 at 18:49

Goldman Sachs Eyes Crypto Trading Expansion under Favorable U.S. Regulations

Goldman Sachs CEO, David Solomon, has expressed renewed interest in expanding the firm's cryptocurrency operations, particularly in trading bitcoin and ether, contingent on a shift in U.S. regulatory policies. Speaking at a Reuters Next conference, Solomon stated that while current U.S. regulations restrict their participation, there is a possibility for revisiting this stance if the regulatory landscape changes. Solomon highlighted that there is significant interest in these technologies due to the speculative nature of assets like bitcoin and the potential evolution of regulatory frameworks under different administrations. This comes in the wake of statements from President-elect Donald Trump promising a more favorable environment for cryptocurrencies, including a proposal for a strategic national Bitcoin reserve to counteract foreign dominance in the crypto sector. Goldman Sachs first launched its crypto trading desk in 2021 and has seen a rising interest in crypto-related products from its hedge fund clients. Solomon reiterated that the firm would evaluate opportunities in market-making for cryptocurrencies if and when the regulatory framework allows it. The interest in expanded crypto ETFs and the testing of technologies like the Canton Network indicate a stronger institutional readiness to adopt broader crypto trading initiatives as regulatory conditions improve.

Disclaimer

This article was generated by artificial intelligence based on sources deemed reliable in the cryptocurrency field. While ARIA strives to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. The content is for general informational purposes only and does not constitute financial, investment, legal, or other professional advice. Any reliance you place on such information is strictly at your own risk. ARIA assumes no responsibility or liability for any errors or omissions in the content of this article or for any actions taken based on its information. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions related to cryptocurrency investments.

>> South Korea Escalates Measures Against North Korean Crypto-Related Cybercrimes

South Korea has unveiled sanctions against 15 North Korean individuals and one organization for their involvement in cryptocurrency thefts and cybercrimes. These actions are part of a concerted effort to disman...

38 minutes ago

>> Israel to Integrate Bitcoin Into Mainstream Finance with New Fund Launches

As Israel steps further into the cryptocurrency realm, the Israel Securities Authority (ISA) has greenlit the launch of six investment funds that will track Bitcoin's price movements. These funds, set to debut ...

3 hours ago

>> Japan Maintains Cautious Stance Amid Global Bitcoin Reserve Conversations

Despite significant global interest in adopting Bitcoin as a reserve asset, Japan remains cautious, emphasizing regulatory and market stability concerns. Finance authorities in Japan underlined the volatility o...

5 hours ago

>> Crypto Trading Made Easier with FixedFloatBot on Telegram

FixedFloat, a prominent cryptocurrency exchange, has recently launched FixedFloatBot on Telegram, enhancing the convenience of crypto trading. This integration allows users to directly manage their transactions...

6 hours ago

>> Russia Pivots to Bitcoin Amid Economic Sanctions: An In-Depth Look

Russia has commenced utilizing Bitcoin and other cryptocurrencies to facilitate international trade in response to Western sanctions, according to Finance Minister Anton Siluanov. Recent legislative changes hav...

7 hours ago

>> Ripple's Stablecoin Arrival in Singapore Strengthens Cross-Border Transactions and Financial Stability

Ripple’s USD-backed stablecoin, Ripple USD (RLUSD), has officially launched in Singapore through the regulated crypto exchange Independent Reserve. This marks the first listing of RLUSD in Singapore, distinguis...

11 hours ago

>> Microsoft's Strategic Avoidance of Bitcoin: A Smart Move for Stability

Microsoft’s decision to not add Bitcoin to its balance sheet was a great idea for both financial stability and investor confidence. This decision reflects a cautious approach towards the volatile cryptocurrency...

12 hours ago

>> Turkey's Crypto Landscape Transforms with New AML Rules and Global Alignment

Turkey has officially announced significant changes to its cryptocurrency regulatory framework, aiming to strengthen anti-money laundering (AML) efforts and align with global standards, including the European U...

15 hours ago

>> Singapore Ascends as Top Crypto Licensing Hub in Comparison with Hong Kong

Singapore has solidified its lead over Hong Kong as Asia's premier destination for cryptocurrency businesses, issuing a significant number of 13 new crypto licenses in 2024, a substantial increase from the prev...

17 hours ago

>> Crypto.com Expands in North America: New Custody Services for the US and Canada

Crypto.com is set to enhance its offerings in North America by launching a dedicated custody service for high-net-worth individuals in the US and Canada. This initiative includes the establishment of a US trust...

17 hours ago

All the latest crypto news in one place

Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.

Launch Terminal