Fidelity joins push for Senate passage of CLARITY Act
Fidelity joins push for Senate passage of the CLARITY Act, calling Friday for lawmakers to enact digital asset market structure rules. The asset manager says clearer regulation would boost investor confidence, give market participants certainty, and help keep the US competitive in global crypto markets.
The move adds one of the world's largest traditional finance firms to a coalition already pressing Congress for clearer crypto rules. According to Cointelegraph, Fidelity argued that clear digital asset regulations are needed to strengthen investor confidence, provide certainty for market participants and reinforce US leadership in global crypto markets.
Key Takeaways
- Fidelity asked the US Senate on Friday to pass the CLARITY Act.
- Industry groups including the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association also urged a floor vote the same day.
- Coinbase CEO Brian Armstrong called for a full Senate floor vote on Wednesday.
- The bill needs 60 Senate votes; Republicans hold a 52-47 majority.
- Fidelity manages about $7.1 trillion in assets and ranks as the world's third-largest asset manager.
Why does Fidelity want the CLARITY Act passed?
Fidelity framed the legislation as a path to clearer rules for digital assets. The firm said market structure legislation would support investor confidence and give participants more certainty about how crypto markets should operate in the United States.
That message lands as traditional asset managers deepen crypto involvement and as Washington debates how to regulate the sector. More coverage of similar regulatory moves is available in our Fintech & Crypto Alerts section.
Who else is pressing the Senate to act?
Fidelity is not alone. Earlier Friday, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association called on Senate leaders to bring the bill to the floor.
Coinbase CEO Brian Armstrong also called for a full Senate floor vote on Wednesday, underscoring how crypto firms and industry associations are aligning around a push for market structure legislation.
What stands in the way of Senate passage?
The CLARITY Act would establish a regulatory framework for digital assets in the US. To pass the Senate, the bill needs 60 votes. Republicans currently hold a 52-47 majority.
Republicans released updated bill text on Wednesday, but some Democrats argued the ethics provisions do not go far enough to address corruption concerns. That dispute remains a key political hurdle even as industry pressure mounts.
How significant is Fidelity's endorsement?
Fidelity is ranked as the world's third-largest asset manager by the Sovereign Wealth Fund Institute. It reported $7.1 trillion in managed assets in its 2025 annual report.
When a firm of that scale publicly urges Senate action, it signals that major Wall Street players see regulatory clarity as unfinished business—and that the CLARITY Act has become a central test of whether Congress can deliver it.