The Goldman chief endorsed the crypto market-structure bill just as a group of Senate Democrats rejected the latest draft over ethics and illicit-finance concerns.
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Posted July 23, 2026 at 3:33 pm EST.
Goldman Sachs CEO David Solomon has endorsed the Clarity Act, putting the Wall Street bank behind the crypto market-structure bill even as rival banking executives fight key parts of it.
“I’m very supportive of moving the CLARITY Act forward, so we can get some market structure in place and start to move the innovation process along,” Solomon was quoted by Politico as saying in an interview reported Thursday. He reportedly called the bill imperfect but said in the interview its value lies in creating “a level playing field to enhance market stability and allow these markets to develop appropriately.”
Solomon’s remarks came as Senate Republicans circulated updated text of the bill this week ahead of a possible floor vote, and they put him on the opposite side of a fight that has divided the financial industry.
A Split Down Wall Street
The divide runs along business lines. Commercial and community banks have lined up against a provision governing stablecoin yield, the rewards platforms can pay users who hold dollar-pegged tokens, warning that the current language is vague and would hurt small businesses by pulling deposits that would have gone to lending out of community banks. JPMorgan CEO Jamie Dimon has been among the loudest opponents. Dimon said in a May interview with Fox Business, “The banks will not accept it that way,” warning that letting crypto platforms pay yield without submitting to banking regulations “will eventually blow up.”
Investment banks like Goldman, which rely less on consumer deposits, have focused elsewhere. Solomon pointed to language that would let “regulated institutions that have been on the sidelines participate more actively.”
Democrats say the draft still falls short
While Solomon’s backing is significant, the Clarity Act still faces hurdles. Seven Senate Democrats, led by Angela Alsobrooks, on Wednesday said in a joint statement that the Republican text “as it currently stands falls short.” The lawmakers wrote that “Key provisions including those addressing ethics for elected officials, consumer protection, illicit finance, conflicts of interest and market integrity must be strengthened.” The updated draft would bar the president, members of Congress and other officials from issuing digital assets for compensation while in office, but Democrats distrust the Trump Justice Department to enforce those limits.
The Clarity Act would split oversight of digital assets between the SEC and the CFTC. A version of the bill cleared the House in July 2025, and in May the Senate Banking Committee signed off on its own draft 15-9, but the 60 votes required on the Senate floor remain a steep climb. Majority Leader John Thune is aiming for a vote in the coming week.
Related Listen: Coinbase’s Chief Policy Officer on Why He Believes the Clarity Act Will Pass
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