Fidelity joins push for Senate passage of CLARITY Act

cointelegraphPublished on 2026-07-27Last updated on 2026-07-27

Abstract

Fidelity Investments urged the U.S. Senate to pass the CLARITY Act, advocating for clear digital asset regulations to boost investor confidence and U.S. leadership in crypto markets. The company joins a coalition of financial firms and crypto groups, including the Crypto Council for Innovation, pushing for the bill's advancement. The proposed legislation aims to establish a U.S. regulatory framework for digital assets but faces a Senate challenge, requiring 60 votes to pass amid partisan debate over ethics provisions. As the world's third-largest asset manager with $7.1 trillion in managed assets, Fidelity's support adds significant weight to the call for regulatory clarity.

Fidelity Investments’ public policy group called on the US Senate to pass the CLARITY Act on Friday, saying clear digital asset regulations are needed to strengthen investor confidence, provide certainty for market participants and reinforce US leadership in global crypto markets.

The company joins a growing coalition of financial firms and crypto organizations urging US lawmakers to advance digital asset market structure legislation.

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 on Wednesday also called for a full Senate floor vote.

The CLARITY Act would establish a regulatory framework for digital assets in the US. The bill needs 60 votes to pass the Senate, where Republicans 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.

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.

Related: Here’s why the CLARITY Act’s ethics deal may be so hard to reach

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Related Questions

QWhy does Fidelity Investments support the passage of the CLARITY Act?

AFidelity Investments supports the CLARITY Act because clear digital asset regulations are needed to strengthen investor confidence, provide certainty for market participants, and reinforce US leadership in global crypto markets.

QWhat is the main purpose of the CLARITY Act?

AThe main purpose of the CLARITY Act is to establish a regulatory framework for digital assets in the United States.

QHow many votes are required for the CLARITY Act to pass the Senate?

AThe CLARITY Act needs 60 votes to pass the Senate.

QWhich organizations joined Fidelity in urging the Senate to advance the digital asset bill on the same Friday?

AOn the same Friday, the Crypto Council for Innovation, the Digital Chamber, and the Blockchain Association joined in calling on Senate leaders to bring the bill to the floor.

QWhat specific criticism did some Democrats have regarding the updated CLARITY Act bill text?

ASome Democrats argued that the ethics provisions in the updated bill text do not go far enough to address corruption concerns.

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