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Goldman CEO backs CLARITY Act despite stablecoin provisions concerns

Solomon called the bill “not perfect,” but said it would create a level playing field aimed at enhancing market stability, with a Senate vote not yet scheduled.

Reported · Written up by our desk · Market Structure

Goldman Sachs CEO David Solomon said he supports the Digital Asset Market Clarity, or CLARITY, Act, a cryptocurrency market structure bill under consideration in the US Senate, even as provisions on stablecoins continue to divide lawmakers and financial firms.

According to Cointelegraph, Solomon described the legislation as “not perfect,” but argued it is needed to create a level playing field that could enhance market stability and allow crypto markets to develop appropriately.

Cointelegraph reports that, ahead of a potential Senate vote, Republicans released the CLARITY Act text including ethics provisions that have raised concerns among some Democrats related to US President Donald Trump’s crypto investments.

The article also notes that major banks have been hesitant about the bill, including JPMorgan Chase CEO Jamie Dimon, who previously said CLARITY would let crypto companies pay interest on stablecoins without the protections banks would require, while Senate leaders had not scheduled a vote as of Thursday.

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