Goldman Sachs CEO backs ‘not perfect’ CLARITY Act as vote expected soon
Summary
Goldman Sachs CEO David Solomon endorsed the Senate’s crypto market structure bill, the CLARITY Act, calling it “not perfect” but useful for creating a level playing field and improving market stability. His support is notable because many other traditional finance leaders, including JPMorgan’s Jamie Dimon, oppose the bill, especially provisions they say let crypto firms pay yield on stablecoins outside normal banking rules. Republicans released the bill text with ethics language tied to concerns over Donald Trump’s crypto interests, but Senate leaders had not set a vote. Democrats said the ethics provisions are too weak and criticized the bill for not adequately protecting investors, the financial system, or national security.
