Goldman Sachs Worried About Bitcoin Futures Roll Out

Yesterday the CFTC held a meeting to gather feedback on the process it used in the launch of Bitcoin futures.

The process represents itself a self-certification one where the exchange launches the product without a formal review by regulators.

The Goldman Sachs managing director Rana Yared said in the meeting, that at the time when the bitcoin futures were launched, the firm still hadn’t decided whether it was appropriate for employees for trading those futures contracts. Before the information, clients were already asking the firm to finish their transactions.

“it is critical for major clearing firms like Goldman to be prepared for new contracts so they can manage risk appropriately”, Yared continues saying.

Her view aren’t innovate for CFTC, but it means that future derivatives to be issued under such a process will not be met kindly with Wall Street. But in case of making profits, they’d probably keep their mouths shut.