- A “rules-based” ultimatum
- The El Salvador connection
- Goldman’s crypto involvement
Goldman Sachs CEO David Solomon issued a stark warning to cryptocurrency enthusiasts hoping to bypass U.S. financial regulations: Get on board with the rules, or get out, CNBC reports
Solomon has stressed that the future of digital assets in the United States depends on integrating them into a secure legal framework.
A “rules-based” ultimatum
“If there are people who think we are going to operate in this environment without rules, they are probably wrong, and they should move to El Salvador,” Solomon told CNBC’s Sara Eisen during a live interview at the event.
HOT Stories
Goldman CEO to Crypto Rebels: Move to El Salvador
Morning Crypto Report: XRP Defends 200-Week Support, Altcoin Sell-Off Hits Five-Year Highs, Arthur Hayes Shares Two Scenarios for Bitcoin Amid ‘AI Financial Crisis’
Solomon has argued that the stability of the American financial system remains paramount.
“I believe that to operate markets safely and soundly, we need to have a rules-based system,” Solomon said. “Our banking system is unique, and it needs to coexist with this technological innovation.”
The El Salvador connection
Of course, El Salvador famously became the first country to adopt Bitcoin as legal tender in 2021. The move attracted a wave of crypto expatriates seeking a regulation-light environment.
However, the gamble has had mixed results. El Salvador’s government has been purchasing Bitcoin since 2022, but recent market volatility has taken a toll. The value of the nation’s Bitcoin holdings has reportedly fallen to approximately $500 million, down from a high of $800 million last year.
Goldman’s crypto involvement
The bank first flirted with the sector during the 2017 bull run by setting up a cryptocurrency trading desk, only to shelve those plans
This skepticism peaked in 2020 when the firm notably declared that cryptocurrencies were “not an asset class.”
However, the 2021 institutional wave forced a pivot. This prompted Goldman to restart its trading desk.
Goldman has also spent years developing GS DAP, a proprietary tokenization platform designed to bring traditional assets onto the blockchain
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Michael Saylor Warns Quantum Threat Would Break the Internet - U.Today
Michael Saylor argues that quantum computing poses a universal risk beyond Bitcoin, threatening critical global infrastructure. In response to Chamath Palihapitiya's views on AI and market disruptions, Saylor insists that a transition to Post-Quantum Cryptography will protect Bitcoin and other systems together, emphasizing its resilience as "Digital Capital."
UToday1h ago
Iran's Foreign Minister Denies Recent Contact with US, Says Relevant News Aimed at Misleading Oil Traders
Gate News: On March 16, Iran's Foreign Minister Araghchi stated that his last contact with U.S. envoy Wiltcoff occurred before the United States decided to end diplomatic efforts by launching another illegal military attack on Iran. Araghchi emphasized that any claims of recent contact between the two sides appear to be merely to mislead oil traders and the public. Previously, U.S. media cited multiple U.S. officials and sources saying that the direct communication channel between Wiltcoff and Araghchi had recently been reestablished.
GateNews2h ago
Ghana SEC Approves 11 Firms for Crypto Sandbox
_Ghana’s SEC admits 11 firms into a 12-month VASP Act 2025 crypto sandbox, setting the stage for full digital asset licensing across West Africa._
Ghana’s Securities and Exchange Commission just moved. Eleven virtual asset service providers got access to a regulatory sandbox on March 10, 2026.
LiveBTCNews4h ago
China Control over Taiwan by 2026 Targeted, Crypto Market Recovers
Recent military activities near Taiwan have increased, with China reinforcing its presence through aircraft and naval maneuvers. In response, Taiwan is enhancing its defense capabilities while political tensions rise, affecting global markets, including cryptocurrencies.
CryptoBreaking7h ago
Oil Price Surge Alters Rate Cut Expectations, Fed Interest Rate Options Bet Profits $10 Million
March 16 News: Sharp increases in oil prices and downward adjustments in market expectations for Federal Reserve easing policies have resulted in profits of $10 million from an options trade related to SOFR. The bet existed before the war, and as the conflict caused crude oil prices to soar, it triggered inflation concerns, prompting traders to predict that the Federal Reserve will maintain high interest rates.
GateNews8h ago
