According to Foresight News, Reuters reports that Goldman Sachs CEO David Solomon addressed questions regarding the bank's stance on cryptocurrencies and its potential involvement in trading them. Solomon emphasized that regulatory changes are necessary for banks to engage in such activities. He stated, "This is a question you must ask the regulators. Currently, as a regulated banking institution, we are not permitted to hold cryptocurrencies like Bitcoin as principal assets."
Solomon further explained that while Goldman Sachs provides clients with advice on various technologies and issues, the bank's ability to operate in cryptocurrency markets is significantly restricted by current regulations. He reiterated that the bank will continue to offer guidance to its clients but highlighted the limitations imposed by the regulatory framework. The CEO's comments underscore the ongoing challenges faced by traditional financial institutions in navigating the evolving landscape of digital currencies.