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Report: Goldman postponing cryptocurrency trading desk plans

Goldman Sachs Group Inc. is postponing plans to open a desk to trade cryptocurrencies, including bitcoin, Business Insider reported, citing people familiar with the matter.

Goldman will instead focus on projects such as offering custody for cryptocurrency funds, under which the bank would hold the securities on behalf of the funds and possibly keep track of price changes on behalf of large-fund clients, the news outlet reported.

A Goldman spokesman declined to comment to Business Insider on the matter.