Goldman Sachs abandons cryptocurrency-goldman-sachs-bitcoin-jpg

Goldman Sachs is in the process of abandoning its plans to engage itself in cryptocurrency trading. The private bank wanted to create a trading desk specialized in digital currencies. But it would have put a stop to this possibility. According to Business Insider's experts, the bank might have finally decided that Bitcoin and its competitors could not be regulated in a near future.

The business bank had been thinking about these plans for a year. Llyod Blankfein, the general manager, said on Twitter that they thought a lot about Bitcoin. He was opening up his mind more and more to this sector, recalling even the skepticism of the population with the paper money not indexed on gold after the Second World War.

The bank would not say a definitive no to this project but would wait for the wind to blow in the direction of cryptos, with a more favorable regulatory environment. Many steps have yet to be taken by Bitcoin and its peers to allow one day a regulated banking institution to fully invest in cryptocurrency trading.