Jane Fraser said the bank wants digital asset rules clarified, even as lawmakers disagree over whether stablecoin holders should earn rewards. The Clarity Act has no floor vote yet.
Jane Fraser said Citigroup wants to see the Clarity Act move forward, putting the bank's weight behind clearer digital asset rules even as lawmakers remain split over stablecoin rewards.
Fraser made the comments in a recent interview, according to a report on her remarks. The Clarity Act would establish a federal framework for classifying and regulating digital assets, something large banks have long said is needed before they can commit capital to crypto services.
The stablecoin reward debate runs in parallel. The question is whether issuers of tokens like USDC or USDT can pay interest to holders, and how regulators should treat those payments. The Securities and Exchange Commission has signaled that some stablecoin yield products resemble securities offerings. No final guidance has been issued.
Fraser did not detail specific provisions of the Clarity Act or take a position on the reward question. Her comments signal institutional impatience with the legislative pace. For banks, regulatory certainty is a precondition for digital asset involvement, and the current patchwork of state rules and enforcement actions makes compliance expensive.
The bill has moved through House committees but no floor vote has been scheduled. The stablecoin reward issue is one of several sticking points holding up broader crypto legislation.
The remarks carry no immediate market impact but add another voice from traditional finance urging Congress to act. Mastercard recently tested a compliance framework for stablecoin issuers, a sign that infrastructure players are preparing for clearer rules rather than waiting on legislation.
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