Fidelity Urges US Senate to Quickly Pass CLARITY Act, Citing Need for Digital-Asset Rules

Fidelity, the world’s third-largest asset manager, urged the US Senate to swiftly pass the CLARITY Act.

Cointelegraph reported on July 25 that Fidelity wrote in a post on X, formerly Twitter, that a clear regulatory framework for the digital-asset market is needed to bolster investor confidence, provide legal certainty for market participants and strengthen US competitiveness in the global digital-asset market.

The appeal marks a call from traditional finance for the bill’s passage. Fidelity has $7.1 trillion in assets under management, making it the world’s third-largest asset manager.

Earlier the same day, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association urged Senate leaders to bring the bill to the floor. Coinbase Chief Executive Officer Brian Armstrong also called on July 23 for a full Senate vote.