Goldman Sachs endorses CLARITY Act, stating it will establish a fair regulatory framework for the crypto market

Odaily Planet Daily News Goldman Sachs Group CEO David Solomon stated that although the CLARITY Act is not perfect, he supports its passage, believing it will establish a clearer and fairer regulatory framework for the digital asset market, enhance market stability, and promote innovative development.

Solomon said the most important significance of the CLARITY Act is to "create a level playing field that allows the market to develop healthily." His stance contrasts sharply with some banking executives, such as JPMorgan CEO Jamie Dimon. The latter believes that the bill would allow crypto companies to offer stablecoin products similar to interest-bearing deposits without facing the same regulatory requirements as banks, potentially weakening the competitiveness of traditional banks.

Currently, Republican senators in the U.S. have released a revised version of the CLARITY Act, which may be submitted to the Senate for a vote as early as next week. The bill aims to clarify the division of responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in digital asset regulation, and will continue negotiations on provisions related to stablecoin issuance, consumer protection, and yield-bearing stablecoins. (CoinDesk)