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Fidelity urges the Senate to pass the Clarity Act crypto bill
Fidelity, which manages about $7 trillion in assets, said the rules would boost investor confidence and give market participants more certainty, as lawmakers continue work on the bill’s market structure provisions.
Fidelity has publicly backed the latest version of the long-awaited Clarity Act, urging the U.S. Senate to pass the crypto market structure bill, according to Bitcoin Magazine.
The bill being debated would bar officials and their families from issuing or promoting crypto, a provision that has become a key sticking point for opposition lawmakers. Fidelity said clearer rules are needed to strengthen investor confidence, provide certainty for market participants, and reinforce U.S. leadership in global digital asset markets.
Bitcoin Magazine also noted that Fidelity manages Bitcoin and other digital asset exchange-traded funds, and that the SEC approved spot Bitcoin ETFs in 2024, which have since been among the most successful ETF launches. The company’s support came alongside multiple crypto and advocacy groups, including the Crypto Council for Innovation, Blockchain Association, and the Digital Chamber.
The Clarity Act has faced deadlock, with banking leaders raising concerns about stablecoins and the yield they might pay customers. The outlet added that Coinbase withdrew support in January after disputes with banking officials over whether earning yield on stablecoins should be banned.
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