Goldman Sachs CEO David Solomon publicly endorsed the revised Digital Asset Market Clarity Act, known as the Clarity Act, in an interview with Politico. published July 26, breaking with the broader banking lobby and drawing an immediate countersign from seven Senate Democrats who called the latest draft a Republican-only text that falls short on ethics and consumer protections.
And this isn’t just a CEO voicing his opinion on pending legislation. It is the first break in the traditionally united opposition among systemic bank executives globally to the framework of the legal cryptocurrency market structure – a break that carries direct consequences for the bill’s legislative path before the August recess.
says Goldman Sachs CEO David Solomon @samjsutton He “strongly supports moving the Clarity Act forward” — a major split from other Wall Street executives and D.C. banking trade groupshttps://t.co/SaJptCT3j9
– Jasper Goodman (@Jasper_Goodman) July 23, 2026
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Clarity Act News: Solomon v. Dimon and the Wall Street Split
Solomon told POLITICO that he supports moving forward with the CLARITY Act despite acknowledging that the legislation is not perfect. He described the bill’s primary contribution as creating a level playing field to promote market stability and allow digital asset markets to develop appropriately, and said he supports pushing it forward so that the market structure can be put in place and the innovation process can advance.
Photo: David Solomon
The comparison with Jamie Dimon, the CEO of JPMorgan, is obvious and valid. Dimon told Fox Business in May that the bill would allow cryptocurrency companies to effectively pay interest on deposits without the same regulatory protections that banks face, and stated that he would have nothing to do with it and that it would eventually fall apart.
A coalition of banking trade groups reinforced that stance on Wednesday, warning that the latest draft still puts domestic lending at risk with its treatment of cryptocurrency rewards programs.
We believe Solomon’s calculations reflect Goldman’s position as an institutional participant in digital assets rather than a lender funded by retail deposits, and the two bank archetypes face structurally different competitive exposures to the CFTC’s underlying regulatory regime for digital assets.
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Senate Democrats Draw the Line: Ethics, Implementation, and the Warren Factor
Seven Senate Democrats – Angela Albrooks, Cory Booker, Katherine Cortez Masto, Ruben Gallego, John Hickenlooper, Mark Warner and Raphael Warnock – issued a joint statement on Wednesday saying the revised text falls short on ethics, consumer protection, illicit finance, conflicts of interest and market integrity, according to Politico.
Booker called the draft a Republican text and said the only viable path forward is bipartisanship.
Photo: Elizabeth Warren
Senator Elizabeth Warren escalated further, saying on X that the bill was dead on arrival and argued that it does nothing to prevent President Donald Trump from making more profit from cryptocurrencies. Democrats are pressing state attorneys general — not just the Justice Department — to take on the authority to enforce the ethics provisions in the bill, a requirement the current draft does not meet.
The crucial variable is Sen. Kirsten Gillibrand (D-N.Y.), the lead negotiator who did not sign the Democratic joint statement — leaving open at least a procedural path to get the bipartisan support that Booker says is needed. Senator Cynthia Lummis responded to Democratic objections, arguing that the bill is legitimate and that Trump has agreed to ethics standards that prohibit all federal officials, including himself, from engaging in certain cryptocurrency activities.
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