Goldman chief David Solomon will support the crypto market structure bill now in Congress, even as financial companies and banks are hesitant over provisions on stablecoins.
David Solomon, chair and CEO of financial giant Goldman Sachs, has given his support for a “not perfect” cryptocurrency market structure bill under consideration in the US Senate even as many provisions continue to divide lawmakers and his fellow industry leaders.
According to a Thursday Politico report, Solomon said that the Digital Asset Market Clarity (CLARITY) Act was “not perfect” but needed to create a “level playing field to enhance market stability.” Solomon stands out as the head of a major financial company backing the legislation, which many of his peers are opposing by arguing that the bill allows crypto companies to pay users interest or yield on stablecoins outside standard rules for financial institutions.
“The CLARITY Act — like all legislation — is not perfect,” said Solomon, according to Politico. “And there are lots of things that you could debate and argue about. But I think one of the most important things that it does is that it creates a level playing field to enhance market stability and allow these markets to develop appropriately.”
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