Goldman Sachs Backs Crypto Clarity Act as Democrats and Warren Oppose It
On July 26, 2026, Republicans released a revised Crypto Clarity Act draft, drawing support from Goldman Sachs CEO David Solomon, who broke with other Wall Street leaders to back the bill. Solomon argued it creates a level playing field and market stability. However, seven Senate Democrats, including Cory Booker and Mark Warner, issued a joint statement saying the bill 'falls short' on ethics, consumer protection, and market integrity. Senator Elizabeth Warren declared the bill 'dead on arrival,' claiming it allows President Trump to profit from crypto. Senator Kirsten Gillibrand, a key negotiator, was notably absent from the Democratic statement. Coinbase CEO Brian Armstrong urged a full Senate vote, while banking trade groups remain opposed, warning the bill risks local lending. Senator Cynthia Lummis defended the bill as legitimate, citing Trump's agreement to ethics standards.
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