Fidelity, the Boston-based investment giant that manages approximately $7 trillion in assets, has thrown its support behind the Clarity Act and is urging the U.S. Senate to pass the crypto market structure bill. The new version of the legislation bans officials and their families from issuing or promoting crypto, a provision designed to address opposition concerns. Fidelity is particularly interested in the bill as it manages Bitcoin ETFs and other digital asset products, which have seen considerable success since their approval by the SEC in 2024. The bill had been stalled for months due to banking concerns over stablecoins and the yields they might potentially pay customers.
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