Blackrock endorsed the CLARITY Act as Congress faces a narrowing legislative window to advance the cryptocurrency bill. Senior Managing Director Samara Cohen described the legislation as an important step toward a regulatory framework that puts investors first, according to a statement provided to Politico's Morning Money. Senate Majority Leader John Thune stated the Senate's work is likely to extend beyond the August recess, underscoring the limited time lawmakers have to advance the bill this year. The endorsement adds Wall Street pressure as the Senate's crowded legislative calendar threatens to delay comprehensive digital asset market structure legislation that Senate Republicans say represents the best opportunity for years to enact federal cryptocurrency rules.
Blackrock Describes CLARITY Act as Framework Supporting Innovation and Investor Protection
Blackrock's Senior Managing Director and Global Head of Market Development Samara Cohen stated in the endorsement 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. Her endorsement adds to growing support from traditional finance for federal cryptocurrency legislation. Fidelity called for Senate approval, placing another major asset manager behind the proposal. Goldman Sachs CEO David Solomon backed the legislation, and Charles Schwab stated the legislation could accelerate digital asset adoption, expanding Wall Street's support for clearer digital asset rules.
Senate Majority Leader States Work Will Extend Beyond August Recess
Last week, Senate Republicans released updated CLARITY Act text reflecting the merged work of the Senate Banking and Agriculture committees. The release stated the coming weeks represent the best opportunity for years to enact comprehensive digital asset market structure legislation. Senator John Thune's comments reinforced concerns that the Senate's crowded legislative calendar could narrow the window for action on the CLARITY Act this year. With Republicans holding a 53-47 majority, most legislation still requires at least 60 votes to overcome procedural hurdles, leaving the bill dependent on bipartisan support. Those challenges prompted some policy analysts to reduce the bill's estimated chances of passage this year to 30%.
Stand With Crypto Reports Over 925,000 Emails to Congress in 2025
Stand With Crypto renewed pressure on Congress by highlighting nearly one million contacts from supporters as lawmakers face a narrowing window to advance the CLARITY Act. The advocacy group, which says it has about three million registered members, reported more than 925,000 emails to Congress in 2025 and over 1.1 million contacts since its founding. The crypto advocacy group stated every Senate vote on the CLARITY Act will be added to its public congressional scorecard, allowing roughly three million registered advocates to see how lawmakers voted. The organization said the scorecard is intended to hold elected officials accountable on digital asset policy as the bill moves through the Senate.
Bill Would Assign SEC and CFTC Defined Responsibilities Over Digital Assets
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.
FAQ
What did Blackrock say about the CLARITY Act?
Blackrock's Senior Managing Director Samara Cohen described the CLARITY Act as an important step toward establishing a regulatory framework for digital assets that puts investors first, according to a statement provided to Politico's Morning Money. She added the bill would help the United States shape the next era of market structure by supporting innovation while preserving transparency, resilience, and investor protections.
Why is the Senate running out of time to pass the CLARITY Act?
Senate Majority Leader John Thune stated the Senate's work is likely to extend beyond the August recess, underscoring the limited time lawmakers have to advance the bill this year. The Senate's crowded legislative calendar has raised concerns about narrowing the window for action on the CLARITY Act. With Republicans holding a 53-47 majority, most legislation still requires at least 60 votes to overcome procedural hurdles, leaving the bill dependent on bipartisan support.
How many times have crypto advocates contacted Congress about the CLARITY Act?
Stand With Crypto reported more than 925,000 emails to Congress in 2025 and over 1.1 million contacts since its founding. The advocacy group, which says it has about three million registered members, stated every Senate vote on the CLARITY Act will be added to its public congressional scorecard to hold elected officials accountable on digital asset policy.
