Post by Augustine Chiagozie (@pabloexchange)

⚖️ CLARITY Act divides Wall Street, banks and crypto ahead of Senate vote

The revised CLARITY Act is fracturing unusual alliances across Wall Street and the crypto industry as lawmakers push for a Senate vote before Congress breaks for recess.

Senate Republicans released a new draft this week that would bar the president and other federal officials from issuing or sponsoring digital assets. The provision is among several changes that have drawn sharply conflicting reactions — Goldman Sachs has broken with other major banks on key provisions, while Cardano founder Charles Hoskinson has aligned with Senator Elizabeth Warren, a longtime crypto critic, on parts of the bill.

The splits span banks, crypto firms, and lawmakers, putting the bill's passage in doubt. The CLARITY Act was intended to establish clear regulatory rules for digital assets, but disagreements over its revised language have deepened uncertainty rather than resolved it.

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