This last quarter of the year has been very great for the world of crypto. The two top coins, Bitcoin and Ethereum, have been big winners with unexpected price surges. However, prices are not the only thing Bitcoin and Ethereum continue to rack up. Both top coins are racking up interest from retail and institutional buyers, and one finance giant might be added to that list very soon. 

David Solomon, CEO of Goldman Sachs, one of the world's biggest and most reputable banking institutions, has said that the bank might be interested in exploring Bitcoin and Ethereum, but only if certain regulations are implemented.

The CEO of the finance giant made this known at a Reuters Next conference, adding that “Regulatory clarity is essential to allow a bank like ours to enter this sector responsibly.” 

It is well-known that crypto regulation is still fragmented worldwide, with laws varying significantly from country to country. Goldman Sachs has pointed out this issue as one of the deterrents to investing in the crypto space. 

Solomon mentioned that this fragmentation of regulation increases the legal risk of investment in the space and the chances of instability in the cryptocurrency bull and bear markets. 

The United States government is one of the countries affected by this uncertainty. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are reportedly still uncertain about how to classify cryptocurrencies and which regulatory bodies are to have jurisdiction. 

Apart from the United States lawmakers, many other countries are still in the early stages of developing specific laws for digital assets, including cryptocurrencies. 

Despite this lingering issue in the cryptocurrency world, Solomon has hinted that the bank is still interested and is closely monitoring the evolution of the regulatory environment, so an investment in crypto from the bank is not yet out of the question. 

An entry into the crypto world would be a huge win for cryptocurrencies, which have been seeking validation from the banking industry for a while. Adoption from a company of Goldman Sachs caliber would do wonders for crypto’s ambition of worldwide adoption. 

Crypto is already on a good track, even without intervention from finance firms. The industry has already recorded exponential growth and is now attracting multiple investors, both retail and institutional. It is also attracting investment funds and tech companies. 

The crypto community is certainly hoping that Goldman Sachs will invest in the crypto space. Apart from the investment it would bring, a move from Goldman Sachs could prompt other banks and financial institutions to follow suit, leading to a potential global adoption of cryptocurrencies.

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