Goldman Sachs CEO David Solomon was asked at the Reuters Next conference on Tuesday when the company plans to launch "spot bitcoin trading." Solomon said Goldman's ability to participate in cryptocurrencies is limited due to current regulations.
He pointed out: "I do think these technologies are solving (problems), and they are currently receiving a lot of attention because there is a view that the regulatory framework will change as we move forward, which seems to be different from the development under the previous administration." He added that it is not clear how the rules will evolve.
In addition, Solomon reiterated on Tuesday that Bitcoin is a "speculative asset." He said: "These assets, such as Bitcoin, you know that these are speculative assets at present. But people are very interested in them. I understand why."
Goldman Sachs launched a cryptocurrency trading department in 2021 and later became one of several companies to complete a series of tests of Canton Network, an interoperable "network designed for institutional assets" created by Digital Asset Holdings.
Previously, Goldman Sachs also said that its hedge fund clients' interest in crypto-related products is recovering.
Yesterday, Goldman Sachs CEO said that if regulators allow, they will evaluate participating in the Bitcoin or Ethereum market.