Goldman CEO Backs Crypto Bill Despite Stablecoin Reward Opposition
- David Solomon backs the CLARITY Act despite disputes over stablecoin rewards and ethics.
- Banks warn stablecoin rewards could drain deposits and weaken community lending channels.
- Democrats still seek stronger ethics and consumer safeguards before supporting the bill.
Goldman Sachs CEO David Solomon has backed the CLARITY Act as US senators remain divided over stablecoin rewards and ethics rules. His support gives the crypto market structure bill a major Wall Street ally while banks continue to challenge parts of the proposal.
Solomon said that he strongly supports moving the legislation forward. He said clearer market structure rules could help advance innovation in digital assets.
Stablecoin Rewards Divide Banks and Crypto Firms
Goldman Sachs CEO acknowledged that the bill was not perfect. He argued that it could create a level playing field, enhance marke…
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