John Waldron, chief operating officer (COO) of Goldman Sachs, says the financial services giant is seeing increasing demand from customers to own and invest in bitcoin. However, the COO explained that his organization is still looking for ways to meet this demand without fear of regulators.
How should banks be regulated when dealing with digital money?
Commenting on the interview, Waldron, who is also chairman of the banking giant, adds that Goldman Sachs is in talks with regulators and central banks about how banks should be regulated when dealing with digital currencies. At the same time, Waldron explained the financial giant’s unique approach to meeting consumer demand:
We are regulated about what we can do. We will continue to evaluate him… and negotiate with him.
In addition to looking for ways to meet growing consumer demand for cryptocurrencies, the Reuters report also says Goldman is considering a bitcoin exchange-traded fund (ETF) and has sent out a request for information to look at handling digital assets.
Pandemic of significant acceleration of Covid-19
At the same time, the same report quotes Waldron explaining how the Covid 19 pandemic led to an explosion in online commerce and how this trend is not expected to change in the future. He said:
The pandemic was a major catalyst. There is no doubt that digital commerce will increase … and (the use of) digital currency.
But while Waldron reveals that Goldman Sachs is cautious about analyzing cryptocurrencies, recent reports suggest that the banking giant has already revived its cryptocurrency trading arm. In addition, the banking giant has also started trading bitcoin futures and non-deliverable futures for its customers.
Do you agree with Waldron’s assertion that the use of digital currency will explode? You can tell us what you think in the comments below.
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