Odaily Planet Daily reports that asset management firm Franklin Templeton announced its support for the CLARITY Act on July 27. Franklin Resources previously disclosed that, as of June 30, its assets under management amounted to $1.79 trillion, up from $1.78 trillion a month earlier. Franklin Templeton stated that the CLARITY Act will establish clearer regulations for digital assets, helping investors understand the protections available and increasing certainty for businesses regarding the division of federal regulatory responsibilities. BlackRock, Fidelity Investments, Goldman Sachs, and Charles Schwab have previously publicly supported this market structure bill. On July 22, Republican senators released an updated version of the text, proposing to assign regulatory authority over digital assets to the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC).
Franklin Templeton Supports the CLARITY Act to Clarify Digital Asset Regulations
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Summary
Franklin Templeton supports the CLARITY Act to streamline digital asset regulation. The firm, which manages $1.79 trillion in assets, says the bill will enhance investor clarity and regulatory confidence. BlackRock, Fidelity, and Goldman Sachs also support the proposal. On July 22, Senate Republicans updated the bill, proposing a division of oversight between the SEC and CFTC. The bill also includes provisions related to CFT (Countering the Financing of Terrorism).
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