As a researcher with over two decades of experience in the financial sector, I’ve witnessed numerous changes and evolutions within the industry. The potential shift in the regulatory environment for cryptocurrencies under President Donald Trump, as suggested by Goldman Sachs CEO David Solomon, is indeed an intriguing development.
The head of Goldman Sachs has affirmed they might collaborate with cryptocurrencies should the regulatory landscape shift, potentially under President Donald Trump’s administration.
As stated by the CEO, it’s important that U.S. laws become more favorable to facilitate asset managers entering the cryptocurrency market.
Goldman Sachs CEO Asks for a Change in Regulations
As an analyst, I’m sharing some insights from our CEO, David Solomon, who expressed his views at a recent Reuters conference. He emphasized the need for the current regulatory framework to adapt, allowing our company to directly invest in digital assets like Bitcoin and Ethereum. While there is growing interest in the crypto sphere, he acknowledged that the specifics of how regulations will shift under the new administration are yet to be clarified.
At this point in time, due to regulatory restrictions, our capacity to take action within these cryptocurrency markets is severely restricted, according to the CEO.
Additionally, he made clear that while Goldman Sachs has delved into digital assets, due to its status as a regulated financial entity, it currently does not engage in purchasing or selling cryptocurrencies such as Bitcoin or Ethereum.
It’s worth noting that Goldman Sachs owns substantial amounts in Bitcoin ETFs, as revealed in a SEC filing dated November 14. This filing indicates that the bank has invested approximately $718 million across eight different ETFs, with a portion of $461 million being allocated to BlackRock’s Bitcoin ETF.
The remarks by Goldman Sachs CEO, David Solomon, are made amidst the anticipation of a government that is expected to be supportive towards cryptocurrencies, as per President-elect Donald Trump’s pledges.
By appointing crypto advocate Paul Atkins as SEC chairman, it appears that the president is fulfilling his pledged stance. This move suggests that the Securities and Exchange Commission might take on a more accommodating stance when dealing with crypto investors.
According to reports from Axios, it seems that Donald Trump is quite fond of the idea of Bitcoin increasing significantly in value, potentially reaching $150,000 or more, following his presidency.
For him, it’s just another financial market. It’s likely that Trump would be thrilled if Bitcoin reached $150,000 during the early stages of his presidency, according to a leading source from his transition team.
Following Trump’s claim of responsibility for Bitcoin reaching a new peak of $100,000 just the previous week.
“Congratulations Bitcoiners! $100,000! You’re Welcome!!!” Trump posted.
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2024-12-11 11:44