Crypto
Home›Crypto›Regulation›Franklin Templeton endorses the CLARITY Act crypto mar…
Franklin Templeton endorses the CLARITY Act crypto market-structure bill
The $1.79 trillion asset manager said the bill would clarify which regulators oversee crypto, including SEC and CFTC roles.
Franklin Templeton has publicly endorsed the CLARITY Act, a federal crypto market-structure bill moving through the U.S. Senate, according to The Defiant. The firm said on July 27 that it supports passage, adding that the industry needs “the clarity it needs.” The Defiant reports that Franklin Templeton said the legislation would spell out how crypto is regulated, including which protections apply to investors and which regulators firms would answer to. The firm described the goal as giving both investors and market participants clearer guidance on oversight and requirements. The Defiant noted that Franklin Templeton is an affiliate of Franklin Resources Inc., and that the firm reported $1.79 trillion in assets under management as of June 30. Its endorsement adds another large institutional backer to the growing coalition, joining BlackRock, Fidelity Investments, and Goldman Sachs, which have also backed the bill. The Defiant also said Senate Republicans unveiled revised CLARITY Act language on July 22 that merges work from the Senate Banking Committee and Senate Agriculture Committee, with oversight responsibilities assigned across the SEC and CFTC. The proposal would set regulatory treatment for securities and digital commodities and include registration standards, customer protections, and disclosure obligations, though no floor vote has been scheduled and endorsements do not ensure passage.