Goldman Sachs: cryptocurrencies are risky for business

Banking giant Goldman Sachs believes that the connection with the cryptocurrency and bloccano carries the potential business risks. Earlier this year, the Bank warned
investors about the «bubble» of bitcoin.

According to the statement of 26 February, which was included in the annual report for the 2017 financial year, Goldman Sachs believes that the Bank can influence work with clients and the companies in which he invested associated with the industry of cryptocurrencies and the blockchain. Goldman Sachs – investor cryptocurrency Circle (which was announced today
on the purchase of the exchange Poloniex) and is one of several investment banks, offering its clients access to the markets of futures for bitcoin. In a statement, the Bank said:

«We may already, or soon will be subject to risks associated with the technology of distributed registry through the support of our customers involved with the products on the basis of the blockchain, cryptocurrencies for example. Also to work can affect our investment in companies who seek to develop a platform based on a distributed registry, and the use of third-party technology service providers, customers, counterparties, clearing centers and other financial intermediaries».

Despite the lack of obvious communication, the designated Bank risks can be a reason why Goldman has so far avoided a more serious participation in the industry.

In January, the President of the Bank, Lloyd Blankfein (Lloyd Blankfein) denied
rumors that the investment Bank was considering plans to launch a trading platform for cryptocurrency. However, he does not deny that once Goldman will develop in this direction. He said

«We are the primary broker, so if our customers are interested in this direction, we will to deal with them. While we do not plan to open trade with bitcoin directly».

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