CLARITY Act Moves Closer as Goldman CEO Supports Senate Push
Key Insights
- The CLARITY Act now combines work completed by the Senate Banking and Agriculture committees.
- Goldman Sachs CEO David Solomon supports advancing the bill despite unresolved policy disputes.
- Democrats dispute its ethics enforcement, while banking groups still oppose stablecoin reward rules.
The CLARITY Act has moved closer to Senate consideration after lawmakers released updated legislative text on July 22. Senator Cynthia Lummis said the draft combines work from the Senate Banking and Agriculture committees. The Banking Committee advanced the measure by a 15-9 vote on May 14. Goldman Sachs CEO David Solomon has also backed the push, although lawmakers still disagree over ethics enforcement and stablecoin rewards.
Some crypto advocates now describe the enforcement dispute as the final barrier to passage. Yet official statements show that several political and banking objections remain active. Senate leaders must also secure enough support before the chamber can complete action on the bill.
… Continue reading the full article at the original source below.
