Goldman Sachs Backs CLARITY Act as Senate Divides Over Crypto Framework
Goldman Sachs Chairman and CEO David Solomon has expressed support for the CLARITY Act, a federal crypto framework bill. The legislation aims to create a level playing field, improve market stability, and allow digital asset markets to develop within a clearer federal framework.
Solomon acknowledged that the bill is imperfect but argued it would enable regulated institutions to participate more actively in digital asset markets. He noted that Goldman Sachs, an investment bank with $4.04 trillion in assets under supervision at the end of the second quarter of 2026, has expanded its crypto business and sees the CLARITY Act as a way to move innovation forward.
The latest Senate version of the bill reflects negotiations between lawmakers, regulators, law enforcement agencies, financial institutions, consumer advocates, and crypto companies. However, some major consumer and commercial banking organizations object to provisions that could allow crypto platforms to offer yield-based rewards to customers holding dollar-pegged stablecoins, arguing it could pull deposits away from traditional institutions.
Goldman Sachs' support for the bill carries added weight given its significant assets under supervision and expanded crypto business. The firm is working with Apex Group and Archax on an institutional tokenized real estate fund built on its blockchain-based digital asset platform and has filed to launch a bitcoin premium income ETF that seeks income and potential capital appreciation through a bitcoin-linked covered-call strategy.