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Goldman chief David Solomon will support the crypto market structure bill now in Congress, even as financial companies and banks are hesitant over provisions on stablecoins.<\/p>\n
David Solomon, chair and CEO of financial giant Goldman Sachs, has given his support for a \u201cnot perfect\u201d cryptocurrency market structure bill under consideration in the US Senate even as many provisions continue to divide lawmakers and his fellow industry leaders.<\/p>\n
According to a Thursday Politico report, Solomon said<\/a> that the Digital Asset Market Clarity (CLARITY) Act was \u201cnot perfect\u201d but needed to create a \u201clevel playing field to enhance market stability.\u201d Solomon stands out as the head of a major financial company backing the legislation, which many of his peers are opposing<\/a> by arguing that the bill allows crypto companies to pay users interest or yield on stablecoins outside standard rules for financial institutions.<\/p>\n \u201cThe CLARITY Act \u2014 like all legislation \u2014 is not perfect,\u201d said Solomon, according to Politico. \u201cAnd there are lots of things that you could debate and argue about. But 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.\u201d<\/p>\n