Citi CEO Advocates for 'Good' Crypto Clarity Act

Citigroup's CEO Jane Fraser is pushing for a 'good' version of the Clarity Act to pass through Congress. The banking executive emphasized that her bank, which she called a leader in digital assets, wants safe adoption of the technology.

The Clarity Act aims to provide clarity on how banks can work with cryptocurrency companies without violating existing regulations. However, lawmakers were unable to vote on it before recess last week and will instead schedule a vote for September.

Fraser stated that her bank wants regulation that supports innovation while also promoting the safe adoption of digital assets. She added that 'it would be excellent' if the bill passes.