Former Barclays CEO Bob Diamond has publicly endorsed the long-debated Clarity Act, arguing that the legislation would ultimately benefit the banking industry. Speaking on CNBC’s “Squawk Box,” Diamond pushed back against the sector’s opposition to the bill, which has stalled in the Senate.
“No one is investing more in innovation right now than JPMorgan, Morgan Stanley, Goldman Sachs, [and] Bank of New York,” Diamond stated, emphasizing that the world’s largest financial institutions are already preparing for blockchain-based finance. He asserted that “the large, most successful banks are going to benefit from this.”
Diamond highlighted the transformative potential of blockchain technology, pointing to advantages such as 24‑hour, seven‑day trading, instantaneous settlement, and a permanent, transparent transaction record. He added that these features can deliver financial services “at a fraction of the cost with deeper liquidity.”
The former bank chief concluded that ongoing investments by major banks position them to be “big winners” once regulatory clarity arrives through the Clarity Act. His remarks are part of a growing chorus of industry voices calling for a comprehensive US digital asset framework.
