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The endorsement from one of Wall Street's top CEOs adds institutional weight to a bill that would split SEC and CFTC oversight of crypto markets and define digital commodity status.
Solomon's endorsement breaks with Dimon and other Wall Street CEOs fighting the bill's yield-bearing stablecoin provisions, and lands just as a possible Senate floor vote looms next week.
The committee vote moves the market-structure bill out of Banking, but Sen. Gallego's ethics-language condition signals the floor fight is where the real negotiation starts.
The agenda gives market participants a window into how US derivatives oversight is approaching software-led financial innovation.
The metaverse is the umbrella term for persistent, shared 3D virtual spaces where people interact, work, and play. The crypto-side metaverse (Decentraland, Sandbox) and Meta's vision are two very different products under the same word.
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