Fidelity Urges Senate to Pass the CLARITY Act to Regulate Digital Assets

Odaily Planet Daily reports that Fidelity Public Policy, a division of Fidelity Investments, a financial services firm with $7.1 trillion in assets under management, posted on X on July 24, urging the U.S. Senate to pass the CLARITY Act to establish a federal regulatory framework for the digital assets market. According to Fidelity Investments’ 2025 annual report, the company generated $37.7 billion in annual revenue, managed $7.1 trillion in assets, and held $18 trillion in assets under custody and management, providing investment platforms for workplace, brokerage, wealth management, and institutional clients. Current negotiations surrounding the CLARITY Act focus on ethical restrictions, stablecoin incentives, and regulatory delineation between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). The bill aims to establish disclosure requirements, retain anti-fraud authority, and set standards for centralized intermediaries.