BlackRock Joins CLARITY Act Push as Senate Schedules Year-End Legislative Package

The Senate has put the crypto market-structure push on hold, but a last-ditch effort is underway to pass the CLARITY Act. Washington's industry lobby plans to attach the bill to a must-pass year-end legislative package, which would require significant trimming and re-negotiation.

BlackRock, the $15 trillion asset-management behemoth, has publicly thrown its weight behind the CLARITY Act, calling it 'an important step toward establishing a regulatory framework for digital assets that puts investors first.'

The Senate schedule is not in favor of the bill, but attaching it to must-pass legislation could provide an opportunity for passage. However, this route comes with risks, including last-minute bargaining and carve-out demands.