Wall Street Asset Managers Back Crypto CLARITY Act as Senate Deadline Nears
The Digital Asset Market Clarity Act has gained significant attention as the U.S. Senate approaches a critical deadline for legislative action. Major financial institutions including BlackRock, Fidelity, Goldman Sachs, Grayscale, and Charles Schwab have expressed support for the bill, though they have not issued a coordinated industry declaration. These firms, managing a combined $50 trillion in assets, view the legislation as a necessary step to provide regulatory certainty for digital assets and tokenized securities. Fidelity and Goldman Sachs have specifically highlighted the need for federal rules to bolster investor confidence and market stability. The bill, which passed the House in July 2025 and cleared the Senate Banking Committee in May 2026, seeks to delineate oversight between the SEC and the CFTC. Senator Cynthia Lummis released updated text on July 22, 2026, which includes provisions for anti-money laundering and specific frameworks for tokenized stocks. Despite this momentum, the bill faces hurdles in the Senate, including a 60-vote procedural threshold and ongoing disagreements regarding ethics, investor protection, and stablecoin incentives. The outcome of this legislation is vital for the RWA market, as it aims to establish the legal foundation for tokenized assets and institutional participation in digital markets.
- Five major firms managing $50 trillion support the Digital Asset Market Clarity Act.
- The bill passed the House in July 2025 and Senate Banking Committee in May 2026.
- Proposed legislation divides oversight between the SEC and the CFTC for digital assets.
- The bill requires 60 votes in the Senate to overcome procedural hurdles before recess.
The Digital Asset Market Clarity Act is a proposed U.S. legislative framework designed to provide regulatory oversight for the cryptocurrency and tokenized asset industries. It aims to clarify the jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). By establishing clear rules for intermediaries and issuers, the act seeks to integrate digital assets into the existing financial system while maintaining investor protections.