Republicans released a revised Crypto Clarity Act draft Wednesday, drawing immediate support from Goldman Sachs (NYSE:GS) CEO David Solomon and rejection from Senate Democrats who called it "dead on arrival." Goldman's CEO Breaks With Wall Street On The Clarity Act Solomon told Politico he supports moving the Clarity Act forward despite acknowledging the legislation is not perfect, breaking ranks with other major bank CEOs who oppose key provisions of the bill.
"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," Solomon said.
"I'm very supportive of moving the CLARITY Act forward, so we can get some market structure in place and start to move the innovation process along," he added.
His support contrasts directly with JPMorgan (NYSE:JPM) CEO Jamie Dimon, who told Fox Business in May that the bill would allow crypto companies to effectively pay interest on deposits without the same regulatory protections banks face.
"The banks will not accept it that way," Dimon said.
