Goldman Sachs CEO Criticizes EU Regulations as Growth Barrier Amid Crypto Scrutiny

David Solomon, CEO of Goldman Sachs, has lambasted European Union regulations as stifling economic growth, particularly in the context of increasing crypto industry oversight. Speaking at a financial conference, Solomon described Europe's regulatory framework as "overbearing, duplicative, and costly," arguing that it places the bloc at a competitive disadvantage against the U.S. and Asian markets.

The criticism comes as EU policymakers continue tightening digital asset regulations through MiCA (Markets in Crypto-Assets) framework implementation. "National-level fragmentation and veto powers prevent meaningful capital markets reform," Solomon noted, highlighting how protectionist policies undermine the region's financial integration.

Elon Musk amplified these sentiments in a recent tweet, suggesting radical deregulation might require EU departure. The tech billionaire's comments reflect growing frustration among innovators facing compliance burdens that legacy institutions can more easily absorb.