Goldman Sachs CEO Says CLARITY Act Faces Delays Amid Growing Concerns

TLDR

• Goldman Sachs is closely monitoring the CLARITY Act due to its role in tokenization and stablecoins.
• Coinbase withdrew support for the CLARITY Act, leading to a postponed markup session in the Senate.
• Banks and crypto firms are lobbying for changes on stablecoin rewards and tokenized equity rules.
• The Senate Agriculture Committee will mark up its own version of the bill on January 27.

Goldman Sachs CEO David Solomon said that the Digital Asset Market Clarity (CLARITY) Act still has “a long way to go” before progressing in Congress. His comments came during the company’s Q4 2025 earnings call, held shortly after a key markup session of the bill was postponed.

The markup was delayed after Coinbase announced it would no longer support the bill in its current form. During the earnings call, Solomon said many teams at Goldman Sachs are “extremely focused” on the bill due to its potential effects on tokenization and stablecoins.

“That bill, based on the news over the last 24 hours, has a long way to go before that bill is gonna progress,” said Solomon.

Industry Concerns Over Key Regulatory Issues

The postponed markup had been scheduled by the Senate Banking Committee. It was expected to address several contested areas in the bill, including how the U.S. Securities and Exchange Commission (SEC) would regulate tokenized equities and stablecoin rewards.

Coinbase’s withdrawal reportedly stemmed from disagreements over these provisions. Other banks and crypto firms have also raised concerns. Some are urging lawmakers to revise language around passive income from stablecoins, while others seek more clarity on tokenized asset oversight.

A recent draft of the bill hinted that Congress might restrict interest-bearing stablecoins but may still allow other types of digital asset rewards. However, no final decision has been made.

No New Date for Senate Banking Committee Markup

As of mid-January, no new date has been added to the Senate Banking Committee’s official calendar. Industry stakeholders now expect that any further markup could be delayed by weeks or even months.

Lawmakers are also focused on passing a funding bill before the end of January to avoid another government shutdown. A previous shutdown in 2025 already delayed progress on the CLARITY Act and other crypto-related legislation.

Meanwhile, the Senate Agriculture Committee plans to hold a markup on its own version of a digital asset market structure bill on January 27. It remains unclear how different the provisions will be from those in the CLARITY Act.

Goldman Sachs Exploring Related Business Opportunities

Beyond regulation, Goldman Sachs is continuing to explore business ideas linked to the digital asset space. Solomon mentioned that he had met with prediction market operators like Polymarket and Kalshi in recent weeks.

These platforms allow users to trade contracts based on outcomes of real-world events. They are increasingly popular in the crypto community, though their legal status in the U.S. is still developing.

Solomon did not confirm whether Goldman Sachs will enter the prediction market sector, but the meetings show the bank’s interest in the growing digital finance ecosystem.

Despite the bill’s uncertain future, Solomon confirmed that Goldman Sachs will continue to follow legislative changes closely. He noted that the potential for innovation in tokenization and stablecoins remains a key area of focus for the bank.

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