Templeton Backs Clarity Act in Push for Crypto Regulation
Global asset manager Franklin Templeton has publicly endorsed the CLARITY Act, a proposed piece of U.S. legislation aimed at establishing a clear regulatory framework for digital assets.
The bill would provide long-needed definitions for how cryptocurrencies are regulated, clarifying which federal agency oversees which types of tokens.
Franklin Templeton emphasized that the legislation would bring essential clarity to the market, stating 'CLARITY will clarify how crypto is regulated. Investors will know what protections apply, and businesses will know which regulators oversee crypto.'
The CLARITY Act seeks to delineate the jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding digital assets.