Goldman Sachs CEO David Solomon said he supports advancing the Clarity Act in the United States, a bill intended to establish a regulatory framework for the cryptocurrency market. Solomon acknowledged that the legislation is not perfect, but said clearer rules could support market stability and help innovation develop in the digital asset sector.

In an interview, Solomon said, “As with all legislation, there are many issues to be discussed regarding the Clarity Act. However, one of the most important things the bill does is create a level playing field that will enhance market stability and allow these markets to develop in a healthy manner.”

Solomon said a defined market structure for the cryptocurrency sector is needed. He added, “I strongly support the advancement of the Clarity Act so that we can establish some market structures and begin to move the innovation process forward.”

His comments come as Republican senators continue to discuss an updated version of the bill. The Senate is preparing to vote on the regulation next week. If passed, the bill could move long-awaited US cryptocurrency market regulation closer to becoming law.

The legislation is being closely watched because market structure rules would shape how digital asset businesses, banks, and consumers interact under federal oversight. For traditional financial institutions, clearer rules can determine which activities are permitted, what protections apply, and how crypto-related products are treated compared with existing banking services.

Solomon’s position contrasts with the approach taken by some other major banking executives. JPMorgan Chase CEO Jamie Dimon argued in May that the final version of the bill would allow stablecoin issuers to offer returns on deposit-like products without being subject to banking protections that Dimon considers necessary.

Dimon said such a structure would not be accepted by banks and could create serious problems in the future. JPMorgan also said in an assessment published in June that companies offering functions similar to traditional bank accounts should be subject to the same regulations and consumer protection rules as banks.

The debate over the Clarity Act centers in part on provisions related to whether stablecoin holders may receive interest or similar returns. Banks want these products to be regulated in a manner similar to deposits, while the cryptocurrency sector argues that a more flexible framework would encourage competition and financial innovation.