Goldman Sachs denies any attempts to create a special division for trade cryptocurrency


Goldman Sachs, one of the largest banks in the United States, was excited at the time of the cryptocurrency world after reports that the organization creates its own cryptocurrency division. However, recent statements by officials of the company suggests otherwise.

World digital asset had a lot of UPS and downs thanks to the intervention of governments and institutional players in the past. Now David Solomon, chief Executive officer of Goldman Sachs said during a meeting of the house of representatives that the company never planned to create a Department of crypto-currencies.

Solomon pointed out that the article in Bloomberg gave incorrect information, noting:

“Like other companies we are monitoring the work of the stock market, trying to understand the development of cryptocurrency. We have clients who own a certain functionality, with which we have worked upon purchase physically calculated futures, but also, we never had plans to open a Department of cryptocurrencies”.

Goldman Sachs categorically denies the adoption of cryptocurrencies

The Bloomberg article, in question, was published at the end of 2017, and it was said that “people close to the strategy of” development Bank believe that Goldman Sachs will create the Department of trade cryptocurrency in June 2018, which never happened due to delays and other obstacles. The General Director of the Bank said:

“We may at some point explore various new aspects of the work, but it doesn’t matters when it comes to cryptocurrency. In this new field, there are many questions that require clarity from the point of view of regulatory standards and, in the long run, it is not clear whether these currencies are generally viable.”

This statement Solomon made in the House of representatives during the consideration of the question “the Level of responsibility of the megabanks: a review of the system of international leading banks after the 10th anniversary of the financial crisis”. The meeting was attended by officials from Goldman Sachs and representatives of six other megabanks in the United States. The main purpose of the meeting was clarification of the position of banks in relation to the current economic situation and informing the Committee about plans to improve credit and debit investments, to avoid financial disaster like 2008.

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Tags: Goldman Sachs


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