Goldman Sachs CEO backs strict US crypto rulebook

Goldman Sachs CEO David Solomon called for the United States to establish a clearly defined, rules-based framework governing crypto market operations during remarks at the World Liberty Forum in Mar-a-Lago on Wednesday. Speaking in an interview with CNBC, Solomon said lawmakers should take a long-term view when shaping crypto legislation.

He said the US banking system must function alongside emerging technologies rather than be displaced and rejected the notion that cryptocurrency can thrive without regulatory oversight: "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 indicated Goldman Sachs remains active in digitization and tokenization, while noting digital assets are a relatively small portion of the firm's overall operations.

Solomon’s comments came amid debate in Washington over proposed crypto market structure legislation, commonly referred to as the CLARITY Act.

United States, Mar-a-Lago

goldman sachs, david solomon, crypto regulation, clarity act, cryptocurrency, tokenization, digitization, us banking, mar-a-lago, cnbc