Former Barclays CEO: The CLARITY Act ‘Is Really Good for the Banks’
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Former Barclays CEO Bob Diamond said the CLARITY Act would clarify digital asset rules for banks and is "really good for the banks over time," noting large banks such as JPMorgan, Morgan Stanley, Goldman Sachs and Bank of New York are investing heavily in crypto innovation. The bill is still awaiting a full Senate vote amid ongoing ethics negotiations, and Diamond expects passage to accelerate bank adoption of crypto, DeFi services and institutional funding.
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- Diamond believes the CLARITY Act will clarify digital asset rules for banks.
- He stated that no one is investing more in innovation now than large banks.
- The CLARITY Act is still awaiting a full Senate vote due to ongoing ethics negotiations.
During a CNBC interview, former Barclays CEO Bob Diamond said that the CLARITY Act is “a really good thing for the banks over time.”
Diamond thinks the legislation would clear up regulatory confusion and give banks a clearer set of rules for working with digital assets and crypto companies. He stated that no one is investing more in innovation now than banks such as JPMorgan, Morgan Stanley, Goldman Sachs, and Bank of New York. His belief is that the largest, most successful banks are going to benefit from the CLARITY Act.
Bob Diamond was Barclays’ CEO from 2011 to 2012, but before that, he ran Barclays Capital and was instr…
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