{"id":5302,"date":"2018-02-27T02:27:05","date_gmt":"2018-02-27T02:27:05","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=5302"},"modified":"2018-02-27T02:27:05","modified_gmt":"2018-02-27T02:27:05","slug":"goldman-sachs-underlines-cryptocurrencies-related-risk-10-k-filing","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/goldman-sachs-underlines-cryptocurrencies-related-risk-10-k-filing\/","title":{"rendered":"Goldman Sachs Underlines Cryptocurrencies Related Risk In 10-K Filing"},"content":{"rendered":"

\"\"While BoA, in its annual 10-K SEC filing, has expressed fear of losing out to competition<\/a> from cryptocurrencies and blockchain technology in general, Goldman Sachs has mentioned<\/a> that it may become exposed to risks from clients who are dealing with financial products linked to blockchain technology.<\/p>\n

Goldman Sachs may be indirectly referring to its stake in Circle, which has recently acquired cryptocurrency exchange Poloniex. Circle operates<\/a> two businesses: Circle Pay and Circle Trade. Circle Pay offers fiat money sending services, in addition to a social messaging facility. Circle Trade<\/a> is a liquidity provider of crypto currencies. The company also plans to establish Circle Invest in 2018. It will facilitate retail traders to easily invest in crypto markets<\/a>.<\/p>\n

Unlike BoA, Goldman Sachs does not fear the rising influence of blockchain technology and cryptocurrencies in all sectors, including finance. The statement which specifically refers to blockchain technology and cryptocurrencies in Goldman Sachs\u2019 10-K filing is as follows:<\/p>\n

\u201cWe may be, or may become, exposed to risks related to distributed ledger technology through our facilitation of clients\u2019 activities involving financial products linked to distributed ledger technology, such as blockchain or cryptocurrencies, our investments in companies that seek to develop platforms based on distributed ledger technology, and the use of distributed ledger technology by third-party vendors, clients, counterparties, clearing houses and other financial intermediaries.\u201d<\/p><\/blockquote>\n

JP Morgan is another Wall Street giant, which is yet to file its 10-K form with the SEC. However, the financial institution has mentioned the word \u2018risk\u2019 several times in its 71-page blockchain technology report titled \u201cDecrypting Cryptocurrencies: Technology, Applications, and Challenges.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

While BoA, in its annual 10-K SEC filing, has expressed fear of losing out to competition from cryptocurrencies and blockchain technology in general, Goldman Sachs has mentioned that it may become exposed to risks from clients who are dealing with financial products linked to blockchain technology. Goldman Sachs may be indirectly referring to its stake […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68,1],"tags":[],"class_list":["post-5302","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency","category-usa"],"yoast_head":"\nGoldman Sachs Underlines Cryptocurrencies Related Risk In 10-K Filing<\/title>\n<meta name=\"description\" content=\"Goldman Sachs has mentioned that it may become exposed to risks from clients who are dealing with financial products linked to blockchain technology.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/goldman-sachs-underlines-cryptocurrencies-related-risk-10-k-filing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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