Former Barclays CEO Urges Wall Street to Back Key Crypto Bill

Former Barclays CEO Bob Diamond has backed the long-awaited Clarity Act, arguing that the landmark crypto bill would ultimately strengthen the banking sector.

Alex Dovbnya · 31 Jul 2026 · 4 min read

Wire content from U.Today

Former Barclays CEO Urges Wall Street to Back Key Crypto Bill

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By
Alex Dovbnya

Fri, 31/07/2026 – 15:22

Former Barclays CEO Bob Diamond has backed the long-awaited Clarity Act, arguing that the landmark crypto bill would ultimately strengthen the banking sector.

Former Barclays CEO Urges Wall Street to Back Key Crypto Bill

Cover image via depositphotos.com

Banks stand to benefit
Advantages of blockchain
Regulatory Clarity could accelerate adoption

Former Barclays CEO Bob Diamond has thrown his weight behind the long-debated Clarity Act.

During his recent appearance on CNBC’s “Squawk Box,” he stated that the legislation would actually benefit the banking industry.

Banks stand to benefit

The Clarity Act, which aims to establish a comprehensive regulatory framework for digital assets in the United States, has recently stalled in the Senate due to various disagreements, with the banking industry mostly rallying to oppose the bill.

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Asked whether banks were right to oppose the legislation, Diamond argued that the opposite is true, given that the bill is “really good for the banks over time.”

Advantages of blockchain

Diamond described blockchain technology as a transformational improvement to financial markets, stressing that “what we’re talking about is innovation.”

He pointed to several advantages of blockchain infrastructure, including “24-hour trading, 24 over 7,” as well as “instantaneous settlement, which is a positive thing.” He also praised blockchain’s transparency, noting that it creates “a permanent record in perpetuity of every transaction that happens.”

Regulatory Clarity could accelerate adoption

Diamond said banks are already investing heavily in the infrastructure needed for tokenized finance and suggested that regulatory certainty would only strengthen that trend.

“The investments that are being made by the banks,” he said, mean that “a number of the banks that have been investing will be big winners in this.”

#Blockchain