Blackrock, the world’s largest asset manager, backed the CLARITY Act as the Senate races against its legislative calendar, putting Wall Street’s support behind the landmark crypto market structure bill as lawmakers face mounting pressure to advance it.
Key Takeaways
Blackrock described the CLARITY Act as a framework supporting innovation and investor protection.Senate leaders are racing to advance the bill before the legislative calendar grows more crowded.Senator Thune expects the Senate’s work to extend beyond its approaching August recess.Congress is running out of time to pass the CLARITY Act as the Senate’s legislative calendar grows more crowded.
“… an important step toward establishing a regulatory framework for digital assets that puts investors first.”
She added that the bill would “help the United States shape the next era of market structure” by supporting innovation while preserving transparency, resilience, and investor protections.
The Senate’s Legislative Window NarrowsU.S. Senator John Thune (R-SD), the Senate majority leader, said the Senate’s work is likely to extend beyond the August recess, underscoring the limited time lawmakers have to advance the bill this year.
Under the proposal, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) would receive defined responsibilities covering different segments of the digital asset market. Issuers using certain exemptions would also face disclosure obligations involving their blockchain systems, operations, and token distributions.
Investors could receive more standardized information before purchasing covered digital assets, while compliant businesses would obtain clearer registration and trading pathways. Those requirements could influence which tokens reach regulated platforms, how exchanges handle customer assets, and which cryptocurrency services traditional financial institutions offer.
