Wall Street Giants Back CLARITY Act with Franklin Templeton Onboard

Franklin Templeton has joined Blackrock, Fidelity, and Goldman Sachs in supporting the CLARITY Act, which seeks to establish defined regulations for digital assets.

The bill would provide regulatory clarity for companies and give investors better understanding of the protections available to them.

The updated Senate text divides digital asset oversight between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Franklin Templeton, which has $1.79 trillion in assets under management as of June 30, said the legislation would provide the regulatory clarity the crypto industry has long sought.