CLARITY Act splits Wall Street and crypto as Goldman Sachs breaks with banks and Charles Hoskinson backs Warren
The revised CLARITY Act has created unusual splits across banks, crypto leaders and Senate negotiators as support for a crypto market-structure bill remains fragile. Senate Republicans added a ban on federal officials, including the president, issuing or sponsoring digital assets, sharpening debate over ethics and conflicts of interest. Goldman Sachs CEO David Solomon backed moving the bill forward despite banking-industry objections to stablecoin reward rules, while major bank groups warned those rewards could drain deposits and reduce lending capacity. Inside crypto, Cardano founder Charles Hoskinson aligned with Sen. Elizabeth Warren in arguing that Trump should not be a market participant in crypto, even as broader industry figures like Andreessen Horowitz’s Chris Dixon urged passage of the imperfect bill. Seven Democratic senators said the latest draft still needs stronger consumer protection, illicit-finance and ethics safeguards. With 60 votes needed and Senate leaders signaling no vote before August recess, the bill’s path is narrowing.
