BlackRock Backs CLARITY Act Amid Growing Institutional Support

Coinbase Vice Chairman Ryan VanGrack announced on social media that BlackRock has officially endorsed the CLARITY Act, calling for Congress to advance the legislation as Senate negotiations continue.

The endorsement comes after a Politico report cited BlackRock's support for the crypto market structure bill, which aims to establish clearer rules for digital asset markets and define regulatory responsibilities between the SEC and CFTC. BlackRock Senior Managing Director Samara Cohen described the legislation as an important milestone for U.S. capital markets, saying it would 'help preserve U.S. leadership in financial markets while supporting responsible innovation.'

The CLARITY Act has gained significant support from both the crypto industry and traditional finance, with institutions such as Charles Schwab, Fidelity, Goldman Sachs, and Grayscale backing the legislation.

Despite growing institutional support, the bill still faces a difficult path through the Senate, needing at least nine additional votes to clear the 60-vote threshold required to advance. Lawmakers are expected to hold further discussions over Democratic concerns surrounding ethics provisions and conflict-of-interest rules.