BlackRock Joins CLARITY Act Push: Can Year-End Legislative Package Revive Crypto Bill?

The Senate has effectively put on hold the push for crypto market-structure changes. However, in an attempt to revive it, Washington's industry lobby is exploring attaching the CLARITY Act to a must-pass year-end legislative package.

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

The company's senior managing director and global head of market development, Samara Cohen, added that it would help the United States 'shape the next era of market structure' while maintaining transparency and investor protections.

Institutional support is now aligned, with BlackRock joining Fidelity, Goldman Sachs, Franklin Templeton, and others in backing the bill. Nevertheless, the Senate schedule remains a significant hurdle.