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

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

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

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