BlackRock, Fidelity, Franklin Templeton, Goldman Sachs, and SoFi have expressed their backing for the crypto market structure bill as the Senate timeline tightens.
By Helene Braun|Edited by Nikhilesh De Jul 28, 2026, 4:08 p.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on (Spencer Platt/Getty Images)SummaryShow- BlackRock, Fidelity, Franklin Templeton, Goldman Sachs, and SoFi have all publicly supported the Clarity Act recently.
- The legislation has highlighted a division on Wall Street, with JPMorgan advocating for changes that are opposed by Coinbase and the wider crypto community.
- The Senate is facing a narrowing timeline to pass the legislation before its August recess.
Prominent Wall Street firms are rallying behind the Digital Asset Market Clarity Act, showcasing one of the strongest endorsements yet for a bill aimed at creating a regulatory framework for the U.S. crypto sector. This legislation seeks to significantly alter how both the Securities and Exchange Commission and the Commodity Futures Trading Commission regulate this industry.
In the past week, major players like BlackRock, Fidelity, Franklin Templeton, Goldman Sachs, and SoFi have urged Congress to approve the bill, emphasizing that clear regulations would safeguard investors, provide companies with regulatory certainty, and keep the U.S. competitive as digital assets gain traction.
This surge of support also underscores a growing divide within traditional finance. While certain asset managers and banks have welcomed the legislation, JPMorgan Chase has clashed with Coinbase (COIN) regarding stricter regulations on stablecoin yields, supporting changes demanded by the banking sector. They argue that some provisions may give stablecoin issuers an unmerited edge over traditional deposits, while Coinbase and other crypto firms contend that such changes could undermine the legislation and hinder U.S. innovation in the digital asset market.
"Franklin Templeton supports the passage of the CLARITY Act," the company stated in a post on X. "The bill will clarify the regulation of crypto, ensuring investors understand their protections and firms know which regulators they report to. It's crucial to provide the industry with the clarity it requires."
Fidelity echoed this sentiment, asserting that the legislation would deliver the "clear rules of the road" necessary to bolster investor confidence, offer certainty to market participants, and uphold U.S. leadership in digital asset markets.
BlackRock also expressed its support. Samara Cohen, the firm's senior managing director and global head of market development, described the bill in a statement to Politico as "a vital step toward establishing a regulatory framework for digital assets that prioritizes investors."
"It would assist the United States in shaping the future of market structure," Cohen added, while maintaining the transparency, resilience, and investor protections that have established U.S. capital markets as a global standard.
Goldman Sachs is also backing the initiative. CEO David Solomon remarked last week that while the CLARITY Act "is not perfect," it would create "a level playing field to enhance market stability and allow these markets to develop appropriately."
Solomon expressed strong support for advancing the CLARITY Act to establish market structure and stimulate the innovation process.
SoFi CEO Anthony Noto welcomed Goldman Sachs' endorsement, noting on X that both companies have diverged from some banks regarding crypto regulation. He stated, "Robust rules for digital assets are essential for U.S. competitiveness. They protect consumers while allowing us to innovate under domestic regulations. Congress should pass it without delay."
The growing support for the Clarity Act comes as it enters a crucial phase in Congress. Senate negotiators recently released an updated version of the legislation that combines proposals from both the House and Senate, and for the first time, it outlines how ethics restrictions for senior government officials involved with crypto might operate. This topic has become a significant hurdle in negotiations, as lawmakers debate whether the proposal sufficiently addresses concerns about President Donald Trump's crypto business interests.
Despite having revised language, the Senate is not anticipated to take immediate action on the bill. Majority Leader John Thune has redirected the chamber's focus to judicial nominations and a sanctions package related to Russia, leaving the Clarity Act awaiting its turn on the agenda.
The Senate is set to begin its summer recess on August 8, providing only a limited number of legislative days to advance the bill before the break.
Clarity ActLatest Crypto News- 1Ethereum startup EthSystems bets privacy is key to getting banks on public blockchains1 hour ago
- 2Russia outlines new digital depository rules ahead of fall crypto framework roll-out2 hours ago
- 3Hyperliquid is taking crypto perps deep into DeFi’s ‘money LEGO’ land2 hours ago
- 4Zcash seals $1.7 billion shielded pool as Ironwood upgrade activates2 hours ago
- 5Morgan Stanley debuts ether, solana exchange-traded products after bitcoin fund success2 hours ago
- 6Core Scientific lands AMD AI deal as bitcoin mining operation winds down4 hours ago
- 7Binance makes fighting crypto crime more difficult, says new report4 hours ago
- 8Apple kept fake bitcoin wallet on App Store after $875,000 theft report, lawsuit alleges5 hours ago
- 9Bitcoin’s recent stability hasn't been enough to spark a broader altcoin rally5 hours ago
- 10Bitcoin drops as South Korean stocks tumble, Senate shelves crypto Clarity Act5 hours ago
Crypto Flows, Share and the Selective Rotation
Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
By CoinDesk ResearchJul 22, 2026Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
View Full ReportMore From Policy