Fidelity Supports Clarity Act in the U.S. Senate

Fidelity has called for the acceptance of the Clarity Act in the U.S. Senate. The company, which manages $7.1 trillion in assets, stated that clear rules for digital asset markets would enhance investor confidence and strengthen the U.S.'s leadership in the crypto sector. Goldman Sachs CEO David Solomon also expressed support for the bill. The crypto sector is increasing its pressure on the Senate, demanding that the bill be brought to the floor. Coinbase CEO Brian Armstrong stated that the Clarity Act is ready for a Senate vote. However, the support from Democrats remains uncertain. Republicans need at least seven Democratic senators' support to reach the required 60 votes for the bill to progress. Some Democrats argue that the ethical provisions for public officials regarding crypto activities are inadequate. Senate Republicans have published an updated version of the bill in an effort to gain Democratic support. However, if the necessary support is not secured, the Clarity Act process could be pushed to September or after the midterm elections.

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