Citigroup's Fraser backs Clarity Act passage as stablecoin reward dispute persists
NEW YORK, Aug. 14. Citigroup Chief Executive Jane Fraser said she wants to see crypto legislation passed into law, while she and other industry participants continue pushing for changes to the current text. Fraser said of the Clarity Act: "We would like to see a good bill go through."
Key takeaways
- Citigroup CEO Jane Fraser said she wants crypto legislation passed into law, stating of the Clarity Act, "We would like to see a good bill go through."
- Fraser's support falls short of endorsing the current text, as she and other industry participants are still pushing for revisions.
- It remains open which revisions will prevail and whose version of the bill ultimately goes to a vote.
- A separate, unresolved dispute over stablecoin rewards provisions remains active, described as simmering.
- Major financial institutions are signaling support for the legislation moving forward even as the stablecoin rewards dispute persists.
NEW YORK, Aug. 14. Citigroup Chief Executive Jane Fraser said she wants to see crypto legislation passed into law, while she and other industry participants continue pushing for changes to the current text. Fraser said of the Clarity Act: "We would like to see a good bill go through."
Conditional support from a major bank
Fraser's backing falls short of an endorsement of the current text. She and others, the source shows, are still fighting for revisions. Backing a bill's passage while also lobbying to change its contents is the position both Fraser and her unnamed counterparts have staked out.
The question of who wins those revisions, and whose version of the bill ultimately goes to a vote, remains open.
Stablecoin rewards remain unsettled
Alongside the broader question of whether the Clarity Act advances at all, a separate dispute over stablecoin rewards provisions remains active. The source described that argument as simmering, framing it as a distinct pressure point that has not been resolved even as major financial institutions signal support for the legislation moving forward.