Goldman CEO backs Clarity Act

Goldman Sachs CEO David Solomon publicly endorsed the Clarity Act, a crypto market-structure bill moving through the U.S. Senate, in an interview with Politico. Solomon stated he is 'very supportive' of the legislation, arguing it would create a level playing field and allow regulated institutions to participate more actively in digital assets. His stance contrasts with opposition from major banking trade groups and JPMorgan Chase CEO Jamie Dimon, who argue that stablecoin yield provisions would give crypto firms an unfair advantage and pull deposits from traditional banks. The bill faces an uncertain path amid debates over stablecoin yield, ethics provisions, and opposition from law enforcement groups. Republican senators circulated updated text, and Majority Leader John Thune aims for a vote before the August recess.