Goldman Sachs CEO Backs Clarity Act, Banks Split on Stablecoin Rules

Goldman Sachs GS stock page CEO David Solomon publicly backed the Digital Asset Market Clarity Act. The move puts the bank on one side of a split in the US banking industry over stablecoin rules.

Banking trade groups have pushed for tighter limits on stablecoin yields. They worry the products could pull deposits away from traditional lenders.

Market pricing on the Clarity Act becoming law by 2026 has ticked higher, prediction markets show.

Tim Scott, who chairs the Senate Banking Committee, and President Donald Trump are key to the bill's path. Senate negotiations over ethics provisions and illicit finance language are ongoing.