Fidelity Urges U.S. Senate to Pass 'Clarity Act' for Cryptocurrency

Fidelity is urging the U.S. Senate to pass the 'Clarity Act,' a cryptocurrency market structure bill, highlighting the need for clear regulations to bolster investor trust and market certainty. The newly introduced amendment bans cryptocurrency issuance and promotion by public officials and their families, a contentious issue previously opposed by critics. Fidelity, managing approximately $70 billion in assets, is one of the major institutions supporting the bill, joining groups like the Crypto Council for Innovation and the Blockchain Association. The legislation aligns with U.S. efforts to strengthen its leadership in the global digital assets market.