Fidelity urges U.S. Senate to pass CLARITY Act

Fidelity called on the U.S. Senate to pass the CLARITY Act, aligning itself with a broader push by crypto firms and industry groups for federal digital asset market structure legislation. The company said clearer rules are needed to strengthen investor confidence, provide certainty for market participants and reinforce U.S. leadership in global crypto markets. Earlier the same day, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association urged Senate leaders to bring the bill to the floor, while Coinbase CEO Brian Armstrong had called for a full Senate vote on Wednesday. The CLARITY Act would create a regulatory framework for digital assets in the U.S. and needs 60 votes to pass the Senate, where Republicans hold a 52-47 majority. Republicans released updated bill text on Wednesday, but some Democrats said the ethics provisions do not go far enough to address corruption concerns. Fidelity is ranked as the world's third-largest asset manager by the Sovereign Wealth Fund Institute and reported $7.1 trillion in managed assets in its 2025 annual report.