BlackRock Backs CLARITY Act as Programmable Money Revolution Looms

BlackRock has joined several major financial institutions in backing the CLARITY Act, which could accelerate cryptocurrency adoption in the United States. Tom Lee, chairman of Fundstrat, believes the legislation's passage would give the industry momentum beyond Washington.

The bill passed the House and Senate Banking Committee, but its progress is stalled due to ethics rules covering digital assets sponsored by elected officials. No Senate vote is scheduled before the August recess, potentially delaying action until the lame-duck period or 2027.

Fundstrat's Tom Lee argues that once money behaves like software, assets such as loyalty points or reputation could gain monetary functions, especially when controlled by artificial intelligence agents across emerging digital economic systems. He sees a coming programmable money revolution driven by AI and blockchain technology.