Goldman Sachs CEO David Solomon said he is “very supportive” of advancing the Clarity Act, a crypto market structure bill described as a key part of the Trump administration’s digital-asset agenda. Solomon said the measure would help create a level playing field, improve market stability, and allow regulated institutions that had previously stayed on the sidelines to take a more active role in the market. According to Forbes, the bill would provide legal backing for cryptocurrency trading in the United States and place most major cryptocurrencies outside the jurisdiction of the U.S. Securities and Exchange Commission. Solomon’s stance also sets him apart from some other banking executives. Earlier, several figures in traditional finance, including JPMorgan Chase CEO Jamie Dimon, had publicly opposed provisions in the bill related to interest rewards for stablecoins. The comments highlight a split within the banking industry over how far crypto legislation should go and what role regulated institutions should be allowed to play under a new market structure framework.
Goldman Sachs Chief Executive Officer David Solomon said he is “very supportive” of moving forward with the Clarity Act, a cryptocurrency market structure bill.
Solomon said the legislation would create a level playing field, strengthen market stability, and let regulated institutions that had previously remained hesitant take a more active part in the market.
Bill’s role in the U.S. crypto agenda
According to Forbes, the bill is a key part of the Trump administration’s crypto agenda. It would provide legal support for cryptocurrency trading in the United States and keep most major cryptocurrencies outside the jurisdiction of the U.S. Securities and Exchange Commission.
A split with parts of traditional banking
Solomon’s comments put him at odds with some voices in traditional banking. Earlier, several figures, including JPMorgan Chase CEO Jamie Dimon, had publicly opposed the bill’s provisions on interest rewards for stablecoins.
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