Fidelity Joins Push for Senate to Pass CLARITY Act
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- Fidelity called on the US Senate on Friday to pass the CLARITY Act, citing the need to strengthen investor confidence and reinforce US leadership in global crypto markets.
- The CLARITY Act would establish a regulatory framework for digital assets in the US but needs 60 votes to pass, while Republicans hold only a 52-47 Senate majority.
- Republicans released updated bill text on Wednesday, but some Democrats argued the ethics provisions do not go far enough to address corruption concerns.
- Crypto Council for Innovation, the Digital Chamber, and the Blockchain Association all separately called on Senate leaders Friday to bring the bill to the floor, joining Coinbase CEO Brian Armstrong's Wednesday push for a full floor vote.
- Fidelity is ranked the world's third-largest asset manager by the Sovereign Wealth Fund Institute, reporting $7.1 trillion in managed assets in its 2025 annual report.
Why it matters: With Fidelity's $7.1 trillion in assets now publicly backing the bill, the CLARITY Act's coalition spans beyond crypto-native firms to mainstream asset management — but the bill still faces a 60-vote Senate threshold with Democrats flagging insufficient ethics provisions, making the floor path narrow despite the lobbying momentum.
