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Fidelity urges Senate to pass the CLARITY Act for digital asset rules
The CLARITY Act would set a US regulatory framework for digital assets, and it needs 60 Senate votes to pass despite a 52-47 Republican majority.
Fidelity has urged the US Senate to pass the CLARITY Act, joining a broader coalition of financial firms and crypto organizations pushing for clearer digital asset market structure rules, according to Cointelegraph.
The asset manager said clearer regulations are needed to strengthen investor confidence, give market participants certainty, and help reinforce US leadership in global crypto markets.
Cointelegraph reports the push includes groups such as the Crypto Council for Innovation, the Digital Chamber, and the Blockchain Association, and Coinbase CEO Brian Armstrong previously called for a full Senate floor vote.
The CLARITY Act would establish a regulatory framework for digital assets in the US, and it would require 60 votes to pass the Senate, where Republicans hold a 52-47 majority, with some Democrats raising concerns about whether the bill’s ethics provisions address corruption risks.