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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.


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