Goldman Sachs has announced that it is shelving its proposed plan to open a Bitcoin trading desk due to the uncertainty of the industry’s regulatory landscape. Instead, the financial giant says it will focus its efforts towards developing robust solutions for cryptocurrency custody.
Bank Says Regulatory Uncertainty to Blame for Decision
According to Business Insider, Goldman Sachs has removed the creation of a Bitcoin trading desk from its list of priorities. Inside sources say the bank may revisit such plans, but in the immediate future, Goldman Sachs has its sight on other ventures.