Block Backs CLARITY Act, Urges Full Senate Consideration
Summary
- US fintech company Block Inc. has formally expressed support for the digital-asset market structure bill, the CLARITY Act.
- In a letter sent to the US Senate, Block said it respectfully urged the chamber to bring the bill to the floor for consideration.
- Major financial firms including BlackRock, Franklin Templeton, Fidelity, Goldman Sachs and Charles Schwab have also expressed support for the CLARITY Act.
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Block Inc. has formally backed the CLARITY Act, a digital-asset market structure bill in the US.
Bitcoin Magazine reported on July 29 that Block, in a letter to the US Senate, said it "strongly supports the CLARITY Act" and "respectfully urges the Senate to bring the bill to the floor for consideration."
Block's public endorsement adds to calls from across the US financial and crypto industries for the legislation to pass.
BlackRock, Franklin Templeton, Fidelity, Goldman Sachs and Charles Schwab have also expressed support for the CLARITY Act.
The bill would establish a regulatory framework for the US digital-asset market and clarify the roles and jurisdiction of regulators. Discussions on advancing the legislation are underway in the Senate.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.