Franklin Templeton, BlackRock Back CLARITY Act as Support Spreads Across US Finance

Franklin Templeton and BlackRock have voiced support for the CLARITY Act, a US digital-asset market structure bill.

Franklin Templeton said in a post on X on July 27 that the CLARITY Act could provide clear regulatory standards for the US digital-asset market and that it supports the bill’s passage.

The asset manager said the legislation would clarify how digital assets are regulated. Investors would know what protections apply, while companies would know which regulator oversees digital assets. It added that the industry now needs that clarity.

BlackRock, the world’s largest asset manager, has also backed the CLARITY Act. Samara Cohen, the firm’s chief investment officer, wrote in a letter to Politico Morning Money that the bill could mark important progress toward establishing a regulatory framework for cryptocurrencies.

Fidelity, Goldman Sachs and Charles Schwab have also publicly supported the CLARITY Act.

The bill is set to face a full Senate vote in August. Republicans hold 53 seats in the chamber, but additional Democratic support will be needed to reach the 60 votes required for passage.