Fidelity Urges US Senate to Pass CLARITY Act Amid Growing Industry Push
Key Takeaways
- •Fidelity formally called on the US Senate to pass the CLARITY Act, citing the need for investor confidence, regulatory certainty, and American leadership in digital asset markets.
- •The CLARITY Act would create a comprehensive regulatory framework by clarifying oversight roles between the SEC and CFTC based partly on whether a digital asset network is sufficiently decentralized.
- •Multiple industry groups including the Crypto Council for Innovation, the Digital Chamber, and the Blockchain Association have jointly pressured Senate leaders to bring the bill to a floor vote.
- •The legislation requires 60 votes to advance in the Senate, where Republicans hold a 52-47 majority, and some Democrats argue the updated ethics provisions still do not adequately address corruption concerns.
- •Fidelity manages $7.1 trillion in assets and maintains an active digital asset presence through a spot bitcoin ETF and an institutional custody platform under Fidelity Digital Assets.
Fidelity Urges US Senate to Pass CLARITY Act Amid Growing Industry Push
Fidelity has called on the United States Senate to pass the CLARITY Act, adding its voice to a swelling chorus of financial firms and cryptocurrency organizations pressing lawmakers to advance digital asset market structure legislation.
In a statement issued Friday, Fidelity argued that clear digital asset regulations are essential to strengthen investor confidence, provide regulatory certainty for market participants, and reinforce American leadership in global crypto markets. The appeal carries particular weight given Fidelity's active footprint in digital assets, which includes a spot bitcoin exchange-traded fund and an institutional custody platform through Fidelity Digital Assets. The asset manager's appeal was shared via its policy-focused X account: Fidelity Policy on X.
Fidelity joins a rapidly expanding coalition of industry groups advocating for the bill. Earlier on Friday, the Crypto Council for Innovation, the Digital Chamber, and the Blockchain Association jointly called on Senate leaders to bring the legislation to the floor for a vote. Coinbase CEO Brian Armstrong separately pushed for a full Senate floor vote on Wednesday: Brian Armstrong on X.
The CLARITY Act would establish a comprehensive regulatory framework for digital assets in the United States, clarifying the division of oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission based in part on whether a digital asset network is sufficiently decentralized. The bill requires 60 votes to clear the Senate, where Republicans currently hold a 52-47 majority. On Wednesday, Republicans released updated bill text, though some Democrats contend the ethics provisions in the revised version still fall short of adequately addressing corruption concerns. (Related coverage: Crypto advocacy groups support CLARITY Act amid pushback on ethics rules)
The ethics debate remains a key sticking point in negotiations. (Analysis: Here's why the CLARITY Act's ethics deal may be so hard to reach)
Fidelity is ranked as the world's third-largest asset manager by the Sovereign Wealth Fund Institute. According to its 2025 annual report, the firm reported $7.1 trillion in managed assets.
