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Cryptocurrencies have a great development

Updated: Mar 28

Cryptocurrencies have a great development

In addition to large investors, cryptocurrencies are also increasingly on the radar of large investment banks. Goldman Sachs CEO Salomon talks about his assessment in an interview.

For a long time, Wall Street viewed the events of the cryptocurrencies rather skeptically taking Bitcoin and others seriously at all. In the end, however, more and more signs of a change in values ​​can be seen. The most recent example is an interview that Goldman Sachs CEO gave to CNBC. In it, he spoke of a great development facing the United States government with regard to the regulation of Bitcoin and other cryptocurrencies.

In the interview published on social media, the CEO was asked about Goldman Sachs' plans to invest in cryptocurrencies. The manager didn’t let himself be looked at. However, he revealed that his bank is keeping a close eye on cryptocurrencies amid growing demand for crypto engagements from their customers.

Goldman Sachs Sees Changes In The Law Coming

According to the current situation in the USA, banks are prohibited from offering investments in cryptocurrencies. These are considered to be risky asset classes. Due to these regulations, institutions can only offer exposure to crypto values of custody positions for crypto assets. These include, for example, securities or exchange-traded funds. As long as the SEC is obstructing the approval of such a traded fund, this possibility remains purely theoretical.

The CEO hinted that this situation would change over time, but he didn't want to speculate on what that actually means. The company supplies institutions from the high sector with processed information from the crypto industry. The customer base includes well-known players such as investments and funds. Goldman Sachs should use the data supplied in its own infrastructure at the latest.

The contents of this article are for informational purposes only and are not investment advice.

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