BlackRock joined Fidelity and Goldman Sachs in backing the CLARITY Act. The Senate's crowded calendar and a 60-vote threshold leave passage uncertain as Congress faces a narrowing window.
BlackRock endorsed the CLARITY Act on Tuesday, adding the world’s largest asset manager to the Wall Street coalition pushing for federal crypto market structure legislation. Samara Cohen, the firm’s senior managing director and global head of market development, told Politico’s Morning Money the bill “is an important step toward establishing a regulatory framework for digital assets that puts investors first.”
Cohen’s statement followed similar calls from Fidelity, which urged Senate approval last week. Goldman Sachs CEO David Solomon also backed the proposal, and Charles Schwab said the legislation could accelerate digital asset adoption. That gives Republicans a unified front from traditional finance, but the votes needed to pass the bill remain a question.
Senate Majority Leader John Thune said the chamber’s work will likely extend beyond the August recess, shrinking the time lawmakers have to move the CLARITY Act this year. Republicans hold 53 seats, but most legislation still needs 60 votes to overcome procedural hurdles. Policy analysts recently cut the bill’s estimated chances of passage this year to 30%, according to a report cited by the advocacy group Stand With Crypto.
Stand With Crypto, which counts about three million registered members, said it has sent more than 925,000 emails to Congress in 2025 and over 1.1 million contacts since its founding. The group plans to add every Senate vote on the CLARITY Act to its public congressional scorecard, allowing members to see how lawmakers voted. “We’re holding elected officials accountable on digital asset policy,” the organization said in a statement.
The bill itself would assign the Securities and Exchange Commission and the Commodity Futures Trading Commission defined oversight of different segments of the digital asset market. Issuers using certain exemptions would face disclosure obligations covering their blockchain systems, operations, and token distributions. That could shape which tokens reach regulated platforms and how exchanges handle customer assets, though the final language remains subject to amendment.
Goldman Sachs (Alpha Score 61) and Charles Schwab (Alpha Score 70) have both expressed support for the legislation. Their backing, along with BlackRock’s, gives the bill a stamp of approval from the largest names in traditional finance. Still, the Senate’s calendar and the 60-vote requirement leave the outcome uncertain.
The Senate Banking and Agriculture committees merged their drafts into updated text released last week. The House passed its own version with bipartisan support one year ago. A Federal Hall hearing earlier this month revived attention on the bill after months of quiet. Thune said he expects the Senate to take up the bill after the August recess.
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