Citigroup CEO Jane Fraser has said that while some improvements still need to be made to the crypto Clarity Act, the bank wants to see a “good bill to go through.”

The legislation — formally the Digital Asset Market Clarity Act — would set out a framework for how digital assets are regulated in the U.S., dividing oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission and clarifying when a token counts as a security rather than a commodity.

The banking executive said that Citigroup is a “leader in digital assets” and therefore wants the “safe adoption” of the technology.

JUST IN: Citi CEO Jane Fraser says she wants the CLARITY Act to become law. “We would like to see a good bill go through.” Watch pic.twitter.com/caX4lEJivk — Bitcoin Magazine (@BitcoinMagazine) August 14, 2026

“We want to have good regulation that supports innovation and also encourages the safe adoption of the capabilities of digital assets,” Fraser said. “I think it would be excellent for the system.”

Lawmakers were trying to get a vote on the Clarity Act through before splitting for recess last week but ran out of time. A vote on the legislation will now take place in September.

Banking Lobby Friction

A sticking point for the bill has come from the banking lobby, which raised concerns over crypto companies paying customers yield for holding stablecoins. U.S. banks have said they could lose customers if crypto exchanges offer more attractive products for their deposit base. Deposits are among the cheapest sources of funding banks rely on to support lending.

Fraser reiterated the point on Friday, saying that small banks play an important role in the U.S. and that a reward system on deposits could have a “detrimental effect.”

But she added: “We have not given up on pushing to get some improvements made to the bill, but we would like to see a good bill to go through.”

America’s biggest crypto exchange, Coinbase, pulled support for the bill in January after clashing with banking chiefs who said that earning yield on stablecoins should be banned.

Slow Road Through Congress

The Clarity Act was passed by the House of Representatives last year, on a bipartisan 294–134 vote, but has been deadlocked since 2026. Still, the bill has been worked on by both Republicans and Democrats — despite crypto legislation being something pushed by pro-crypto President Donald Trump.

Washington has already written federal rules for one corner of the market: the GENIUS Act, signed into law in July 2025, set a regulatory framework for payment stablecoins, leaving broader market structure rules as the industry’s next major legislative fight.

Major institutions, including Fidelity and Goldman Sachs, as well as crypto lobby groups and politicians, have said the revised bill works in its current form.

Fraser’s comments come as lawmakers prepare to take up the legislation again when they return in September.