Goldman Sachs CEO David Solomon said the Digital Asset Market Clarity (CLARITY) Act “has a long way to go”, signaling continued uncertainty around the future of US crypto market structure legislation. His comments came during the bank’s fourth quarter 2025 earnings call, shortly after the US Senate Banking Committee postponed a scheduled markup of the bill.
Goldman Sachs Closely Watching Tokenization and Stablecoins
Solomon noted that teams across Goldman Sachs are extremely focused on the CLARITY Act due to its potential impact on tokenization, stablecoins, and broader digital asset innovation. While acknowledging delays, he emphasized that these financial innovations remain strategically important for the firm as regulatory clarity evolves.
The markup was postponed after major industry opposition emerged including from large crypto firms that withdrew support for the bill in its current form. Banks, crypto exchanges, and decentralized finance advocates have raised concerns over stablecoin rewards tokenized equities, and regulatory oversight by the SEC. These disagreements have contributed to growing skepticism about how quickly the bill can advance.
Stablecoin Rewards and Banking Interests Clash
Some banking groups have pushed lawmakers to restrict or ban interest-bearing stablecoins, arguing they could compete with traditional deposits. Draft language suggested limits on passive yield from stablecoin holdings, though not an outright prohibition.
As of now, no new markup date has been scheduled, leaving the CLARITY Act’s path forward uncertain as Congress balances fiscal deadlines with crypto regulation priorities.
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