Fidelity Pushes for CLARITY Act Passage Amid Digital-Asset Market Uncertainty

Fidelity, the world's third-largest asset manager, is urging the US Senate to swiftly pass the CLARITY Act. The bill focuses on digital-asset market structure and aims to provide a clear regulatory framework for the industry.

The company believes that such a framework is crucial in boosting investor confidence, providing legal certainty, and strengthening the US's competitiveness in the global digital-asset market.

Fidelity has $7.1 trillion in assets under management, making it the world's third-largest asset manager.

In addition to Fidelity, several other organizations have also called for the passage of the CLARITY Act, including the Crypto Council for Innovation, Digital Chamber, Blockchain Association, and Coinbase CEO Brian Armstrong.