Fidelity joins push for Senate passage of CLARITY Act
Fidelity called on the US Senate to pass the CLARITY Act, joining industry groups and crypto firms pushing for market structure legislation.
Fidelity called on the US Senate to pass the CLARITY Act, joining industry groups and crypto firms pushing for market structure legislation. Fidelity called on the US Senate to pass the CLARITY Act on Friday, saying clear digital asset regulations are needed to strengthen investor confidence, provide certainty for market participants and reinforce US leadership in global crypto markets. The company joins a growing coalition of financial firms and crypto organizations urging US lawmakers to advance digital asset market structure legislation.
Earlier Friday, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association called on Senate leaders to bring the bill to the floor. Coinbase CEO Brian Armstrong also called for a full Senate floor vote on Wednesday. The CLARITY Act would establish a regulatory framework for digital assets in the US.
The bill needs 60 votes to pass the Senate, where Republicans hold a 52-47 majority. Republicans released updated bill text on Wednesday, but some Democrats argued the ethics provisions do not go far enough to address corruption concerns. Fidelity is ranked as the world’s third-largest asset manager by the Sovereign Wealth Fund Institute.
It reported $7.1 trillion in managed assets in its 2025 annual report. Related: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
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