"Very supportive" is how David Solomon, CEO of Goldman Sachs, described his stance on pushing the CLARITY Act forward, even with its rough edges still showing. Speaking to Politico, he made the case that getting a crypto market structure on the books matters more than waiting for everyone to agree on every clause. Coming from the head of one of Wall Street's oldest names, that's a notable split from the crowd.
The banking lobby sees it differently. Several trade groups fired off a May letter to Senate Banking Committee leaders warning that the bill's stablecoin reward rules could bleed deposits out of community banks. Their argument is straightforward: if crypto platforms can offer activity-linked rewards while sitting on customer funds, money moves. Credit tightens. Smaller lenders in underserved markets take the hit. JPMorgan's Jamie Dimon has already added his voice to those objections
