{"id":35369,"date":"2021-01-26T16:18:22","date_gmt":"2021-01-26T14:18:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35369"},"modified":"2025-08-29T01:00:27","modified_gmt":"2025-08-28T22:00:27","slug":"ex-goldman-sachs-ceo-calls-for-tougher-regulation-of-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ex-goldman-sachs-ceo-calls-for-tougher-regulation-of-bitcoin\/","title":{"rendered":"Ex-Goldman Sachs CEO calls for tougher regulation of Bitcoin"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Bitcoin is not a store of value or a medium of exchange. This was stated by the former CEO of Goldman Sachs&#8217; investment bank, Lloyd Blankfein.<\/span><!--more--><\/p>\n<p><span style=\"font-weight: 400;\">According to him, any currency should be a medium of exchange and store of value, but Bitcoin does not meet these criteria. Blankfein believes that this is hindered by the cryptocurrency&#8217;s high volatility and the risk of losing funds:<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">&#8220;If you lose the code or the paper wallet [with it], they will disappear forever.&#8221;<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">He also noted that the anonymity-centric focus of cryptocurrencies poses a problem for regulators seeking to curb money laundering and illicit activity.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">&#8220;You don&#8217;t know whether you are paying North Korea or [simple_tooltip content=&#8217;a terrorist organization banned in the Russian Federation&#8217;]al-Qaeda[\/simple_tooltip].&#8221;<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">He added that regulators would already have armed themselves to tackle Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even if cryptocurrency becomes widely adopted, inevitable regulation would weaken its privacy, Blankfein believes. This could dampen Bitcoin&#8217;s popularity among users, as, in his view, it is the focus on anonymity that attracts cryptocurrency users.<\/span><\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/4wyKyqzsyLk\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">As previously noted, during his tenure as CEO of Goldman Sachs, Blankfein said that Bitcoin did not deserve his attention.<\/span><\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is not a store of value or a medium of exchange. This was stated by Lloyd Blankfein, the former CEO of Goldman Sachs&#8217; investment bank.<\/p>\n","protected":false},"author":1,"featured_media":35370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1138,36],"class_list":["post-35369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-opinions","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35369"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35369\/revisions"}],"predecessor-version":[{"id":35371,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35369\/revisions\/35371"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35370"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}