Goldman Sachs CEO David Solomon threw his weight behind the CLARITY Act at the World Liberty Forum on February 18, calling for a codified, rule-based regulatory framework for digital assets. It’s the kind of endorsement that makes Washington pay attention, even if crypto remains, by Solomon’s own admission, a modest slice of Goldman’s business.

What the Clarity Act actually does

The Digital Asset Market Clarity Act of 2025, formally known as H.R. 3633, is designed to untangle one of crypto’s longest-running headaches: which regulator is actually in charge. The bill draws clearer lines between the SEC and CFTC, defining when a digital asset qualifies as a security versus a commodity.

The House passed the bill on July 17, 2025, with a bipartisan vote of 294-134. The Senate Banking Committee advanced it in early 2026, but the full Senate vote remains a work in progress.

Part of the holdup involves stablecoin regulations. Lawmakers are still haggling over whether stablecoin issuers should be allowed to offer yield-like rewards and how traditional banks should compete with crypto-native stablecoin providers.

Solomon’s careful positioning

During a January 2026 earnings call, Solomon noted that the CLARITY Act had “a long way to go” before full enactment. He also made clear that cryptocurrency activity does not constitute a central business focus for Goldman Sachs.

Solomon emphasized that codified rules are essential for secure US market operations, framing it less as a crypto issue and more as a competitiveness issue. His remarks came roughly two weeks after Treasury Secretary Scott Bessent testified before the Senate on February 5, urging swift legislative action on the CLARITY Act.

Why this matters for the broader market

The EU’s MiCA framework is already operational. Singapore, the UAE, and Hong Kong have all moved aggressively to attract crypto businesses. Every month the US delays comprehensive legislation is a month where talent and capital flow to jurisdictions with clearer rules.